Part of Buyeo General Industrial Complex and Eunsan-myeon Eunsan 2nd Industrial Complex
Buyeo County in South Chungcheong Province announced on the 6th that the Buyeo General Industrial Complex and the Eunsan 2 Industrial Complex have been finally selected as opportunity development zones related to secondary batteries by the Ministry of Trade, Industry and Energy.
Accordingly, the county plans to attract businesses related to secondary batteries to a total area of 525,189 square meters (approximately 158,000 pyeong), including the Buyeo General Industrial Complex currently being developed in Hongsan-myeon and part of the Eunsan 2 Industrial Complex in Eunsan-myeon.
The county has signed investment agreements with five companies, including HK Power Co., Ltd., a manufacturer of secondary battery post-processing equipment, and expects an investment inducement effect of 190 billion won and the creation of about 460 jobs.
Companies moving into the opportunity development zone will receive benefits such as reductions in income and corporate taxes, acquisition and property taxes, business succession deductions, and increased support ratios for local investment promotion subsidies.
Park Junghyun, the governor of the county, said, "With the designation of this opportunity development zone, Buyeo County will be able to create future growth engines by fostering new industries such as secondary batteries," and added, "We will spare no effort in providing active administrative and financial support to investing companies."
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