Dangjin City Attracts 38 Billion Won in Foreign Investment to Songsan Foreign Investment Zone

Investment Agreement Signed with Global Construction Materials Company Sika
Dangjin City and Sika Join Forces to Boost Local Economy and Industrial Competitiveness

Dangjin City, Chungnam Province, signed an investment agreement worth 38 billion won (26 million dollars) with SIKA, a world-leading building materials company, on the 21st at the Chungnam Provincial Government Office. The photo shows a commemorative photo of the participants at the signing ceremony. Photo by Dangjin City

On the 21st, Dangjin City, Chungnam Province signed an investment agreement worth 38 billion KRW (26 million USD) with Sika, a leading global construction materials company, at the Chungnam Provincial Government Office.

The signing ceremony was attended by Oh Seonghwan, Mayor of Dangjin, Kim Taeheum, Governor of Chungnam, Jonathan Selkki, Sika's Head of North Asia, and other company officials.

The city has begun its first investment attraction of the year and is accelerating efforts to attract foreign investment to the Songsan 2-2 Foreign Investment Zone.

Under the agreement, Sika plans to invest a total of 38 billion KRW (26 million USD) to consolidate its three domestic factories into a new facility to be built on 50,653 square meters (15,322 pyeong) in the Songsan 2-2 Foreign Investment Zone, aiming for completion in 2026.

The investment agreement ceremony held at Chungnam Provincial Office on the 21st. /Dangjin City

Sika is a world-leading company in the construction chemicals industry, holding an 11% global market share and operating more than 100 branches worldwide. The company supplies products such as specialty sealants, waterproofing sheets, and concrete admixtures for the construction and industrial sectors.

Additionally, Sika continues to expand its brand recognition through relentless research and development, achieving sales of 1.79 trillion KRW (11.2 billion Swiss francs) in 2023.

Oh Seonghwan, Mayor of Dangjin, said, "We expect that cooperation with Sika will greatly contribute to the development of the local economy," and added, "We will continue to enhance Dangjin's industrial competitiveness by attracting investments from various world-leading companies."