100 Billion Won Investment, Expansion of Assembly Metal and Precision Machinery Manufacturing Facilities
Win-Win Cooperation with Local Companies ... Laying the Foundation for Future Growth
On the 6th, Pohang City held a memorandum of understanding (MOU) signing ceremony for investment attraction and a scholarship donation event with Seongjin E&I at the City Hall External Cooperation Office.
Signing of the Investment Memorandum of Understanding. (From left: Kim Il-man, Chairman of the City Council; Park Heung-won, CEO of Sungjin E&I; Lee Kang-deok, Mayor) Provided by Pohang City
The event was attended by Mayor Lee Kang-deok, City Council Chairman Kim Il-man, Seongjin E&I CEO Park Heung-won, and other company officials.
According to this agreement, Seongjin E&I plans to invest approximately 10 billion KRW from 2025 to 2027 to expand its assembly metal and precision machinery manufacturing facilities on a 14,876㎡ (4,500 pyeong) site within the Pohang Yeongilman 4 General Industrial Complex.
Seongjin E&I, a steel and power equipment specialized company, was founded in 1994 and is celebrating its 30th anniversary this year. Since establishing its base in Yonghan-ri, Heunghae-eup, Pohang City in 2010, it has grown into a representative local company of Pohang.
After obtaining the Innovative Small and Medium Enterprise (INNOBIZ) certification in 2016, the company was selected as a promising small and medium enterprise in Pohang in 2017, recognizing its technological capabilities and growth potential. Notably, earlier this year, it achieved the remarkable feat of being selected as a POSCO Excellent Supplier (PHP) for the 19th consecutive year.
Starting with this MOU, Seongjin E&I plans to prepare for a third leap forward to enter new industries.
Additionally, on this day, Seongjin E&I donated 10 million KRW to the Pohang City Scholarship Foundation, demonstrating its commitment to nurturing local talent.
Mayor Lee Kang-deok stated, “Seongjin E&I’s investment will be an important opportunity to strengthen Pohang City’s industrial competitiveness. I appreciate their support in revitalizing the local economy and fostering talent, and we will do our utmost to establish a foundation for future regional growth through win-win cooperation with local companies.”
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