Kyungdong Navien Gains Momentum in Developing 'Pyeongtaek Seotan2 Industrial Complex'

Passed Gyeonggi-do Review... 289,000㎡ Scale
Pyeongtaek-si "Plan to Approve Industrial Complex Within the Year"

Boiler company Kyungdong Navien is expected to gain momentum in the development project of the 'Seotan 2nd General Industrial Complex' in Pyeongtaek-si, Gyeonggi-do.

Pyeongtaek City announced on the 9th that the Seotan 2nd Industrial Complex plan promoted by Kyungdong Navien recently passed the Gyeonggi-do provincial industrial complex plan review conditionally. Accordingly, the city explained that it plans to give final approval to the industrial complex plan within this year.

The Seotan 2nd Industrial Complex is a project that Kyungdong Navien is promoting to develop on a 289,713㎡ site around Suwolam-ri 2022, Seotan-myeon, to secure future growth engines and expand production capacity. This industrial complex is intended to expand the Seotan factory, which the company currently operates on a 128,000㎡ site with a scale of 94,000㎡. Kyungdong is relocating the existing Segyo-dong factory lines to the Seotan factory, and plans to convert the existing Segyo-dong factory into a gas and electric range production line.

With the approval of this review, Pyeongtaek City will proceed with the remaining administrative procedures such as consultations with related departments starting this month, and plans to approve and announce the industrial complex plan within this year.

Kyungdong Navien is a manufacturer of boilers and water heaters, accounting for 88% of the industry's total exports. In particular, it recently achieved first place in the boiler market and instantaneous gas water heater market in the North American region, exporting products to 47 countries and further expanding its market to Central and South America and Central Asia.

The city expects that the establishment of the Seotan 2nd Industrial Complex will create employment for about 1,500 people through factory operations and the settlement of affiliates and partner companies, and generate an economic ripple effect of 515.7 billion KRW.

Choi Hyung-yoon, head of the Future Advanced Industry Division of Pyeongtaek City, said, "We will continue to actively support companies wishing to settle in Pyeongtaek so that they do not experience inconvenience in moving in."