Gwangyang Free Economic Zone Authority Launches Investment Promotion Activities in China

Attendance at Shanghai and Hangzhou Global Forums
Focusing on ESS Manufacturing... Seven-Day Schedule

Gwangyang Bay Area Free Economic Zone Authority (Commissioner Koo Chung-gon, hereafter referred to as Gwangyang FEZ Authority) announced that from the 20th to the 26th, they will visit Shanghai and Hangzhou, China for a seven-day schedule to attend the Energy Storage System (ESS) Global Forum and carry out investment attraction activities in the ESS manufacturing sector.

This investment attraction activity is being promoted with the aim of establishing a global ESS production base in the Gwangyang Bay Area. In Shanghai, they plan to visit LD Group, a battery and ESS manufacturing company, and Zhongshan Group, which operates corporate information and investment funds.

Exterior view of Gwangyang Free Economic Zone Authority building.

In Hangzhou, they plan to attend the 15th China International Energy Storage Exhibition and Global Forum to promote the Gwangyang Bay Area, and visit global secondary battery company EVE Energy, Narada Energy headquarters, which is planning to invest in Yulchon Industrial Complex, and Zhongtai Group, which has already invested in the Gwangyang Bay Area.

On the first day of the Shanghai visit, the Gwangyang FEZ Authority investment team visited LD Group on the 20th and held investment consultations regarding ESS manufacturing in the Gwangyang Bay Area.

LD Group is a global company with sales of 10 trillion KRW that manufactures batteries for ESS. The company has previously visited the region expressing an intention to invest in the Gwangyang Bay Area, so it is expected that an investment decision will be made soon as a result of this consultation.

Koo Chung-gon, Commissioner of Gwangyang FEZ Authority, stated, "Through this investment attraction activity in China, we will build cooperative relationships with global companies to establish the Gwangyang Bay Area as an export base for global ESS manufacturing," adding, "We will achieve tangible investment attraction results through in-depth consultations with potential investor companies."