Chungnam Province Attracts 2 Trillion Won Investment from 30 Companies

Factories to Be Newly Built, Expanded, or Relocated on 650,000㎡ in 8 Cities and Counties
Attracting 199 Domestic and Foreign Companies with Investments Worth 21 Trillion Won Since Launch of 8th Local Administration

Chungnam Province has successfully attracted investments worth 2 trillion won from 30 domestic companies.

On the 11th, Governor Kim Taeheum signed an investment agreement at the provincial government office with eight city and county heads or deputy heads, including Park Sangdon, Mayor of Cheonan, and representatives from 30 companies, including Park Dooyoung, CEO of Enfield CA.

According to the agreement, the 30 companies will build new factories, expand existing ones, or relocate to a total area of 659,210 square meters across eight cities and counties?Cheonan, Gongju, Asan, Nonsan, Dangjin, Seocheon, Hongseong, and Yesan?by 2031. The total investment amounts to 2.1683 trillion won.

The 30 companies are leading small and medium-sized enterprises in fields such as data centers, pharmaceuticals, automobiles, and semiconductors. Of these, 24 will build new or expanded facilities, while six will relocate from the capital region and other areas.

The province expects that once these companies begin full-scale production, there will be a production effect of 916.3 billion won, an added value effect of 266.6 billion won, and the creation of 2,052 new jobs.

With this agreement, the cumulative investment attracted domestically and internationally since the launch of the 8th popularly elected administration in July 2022 has increased to 199 companies and 21.9471 trillion won. The province anticipates that, with a large-scale investment agreement scheduled for next month and ongoing investment attraction efforts, it could reach a total of 25 trillion won in investments this year.

Governor Kim Taeheum said, "This agreement will enhance the competitiveness of our core industries such as data centers, pharmaceuticals, and automobiles, and secure future growth engines. We will continue to create a business-friendly environment so that companies rooted in Chungnam can thrive."