Gwangyang Free Economic Zone Authority Visits Zhongtai Group, Investor in Our Region

Listening to Investment Status...
Discussing Cooperation Plans with the Gwangyang Bay Area

The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Koo Chung-gon, hereafter Gwangyang FEZ Authority) announced that on the 25th, it visited the headquarters of Zhongtai Group in Hangzhou, China, to listen to the operational status of foreign-invested companies in the Gwangyang Bay Area and discuss future cooperation projects within the region.

Zhongtai Group, established in 2006, is a global leader in the production of specialty gases and ultra-low temperature cooling technology equipment. In partnership with POSCO, the company plans to establish a factory in the Gwangyang Bay Area to supply rare gases essential for the semiconductor industry to both domestic and international markets.

Gwangyang Bay Area Free Economic Zone Authority visited the headquarters of Zhongtai Group located in Hangzhou, China on the 25th to hear about the operational status of foreign-invested companies investing in the Gwangyang Bay Area and discussed future cooperation projects within the Gwangyang Bay Area. Photo by Gwangyang Bay Area Free Economic Zone Authority

During the visit, Koo Chung-gon, Commissioner of Gwangyang FEZ Authority, expressed his deep gratitude for Zhongtai Group's decision to invest in the Gwangyang Bay Area. He explained, "Gwangyang Bay Area is the most active region for Chinese manufacturing investment in Korea and has extensive experience in providing administrative support for foreign investment."

He added, "If you have any questions regarding customs duties, clearance, or investment incentives during your business operations, please feel free to contact us at any time. Based on the successful cooperation with POSCO Group, we hope to expand collaboration with our region into areas such as petrochemicals, chemical fertilizers, and the hydrogen industry within the Yeosu Industrial Complex."

Zhang You Hu, Chairman of Zhongtai Group, said, "Thank you for your interest and visit. Through ongoing cooperation with the Gwangyang FEZ Authority, we hope to share experiences related to foreign investment." He further requested, "Based on our company's technological competitiveness, we ask for your support to expand new businesses in the Gwangyang Bay Area, including the Yeosu Industrial Complex."

A representative from the Gwangyang FEZ Authority concluded the investment attraction activities by stating, "This visit to China was a meaningful opportunity to establish a foundation for cooperation with global companies to foster the Gwangyang Bay Area as a hub for manufacturing and exporting energy storage systems. The promise of a return visit by key decision-makers who participated in in-depth investment consultations raises expectations for substantial investment attraction in the future."