Hampyeong County, Jeonnam, signed an investment agreement worth a total of 5 billion KRW with Misak Co., Ltd. to strategically attract investment for strengthening the local industrial base and creating jobs. Photo by Hampyeong County, Jeonnam
On April 18, Hampyeong County in Jeonnam announced that it had signed an investment agreement worth a total of 5 billion KRW with Misak Co., Ltd. to strategically attract investment for strengthening the local industrial base and creating jobs.
The signing ceremony, held at Hampyeong County Office on the same day, was attended by Lee Sangik, Governor of Hampyeong County, Oh Kyungmin, CEO of Misak Co., Ltd., and other officials.
Under the agreement, Misak Co., Ltd. plans to construct a new factory and expand related facilities on a site within the Hampyeong Bitgreen National Industrial Complex to manufacture home appliance parts and automotive mold components.
Since its establishment in 2019, Misak Co., Ltd. has earned a strong reputation from companies in Japan, the United States, and other countries through steady business activities. The construction of the new factory is being pursued based on promises of order volumes from overseas companies in accordance with the scale of investment.
Based on domestic sales, approximately 80% of the company's production will be home appliance parts and 20% will be automotive bracket molds. All products intended for export will be automotive molds.
Hampyeong County expects that this agreement will not only generate an annual production inducement effect of approximately 9 billion KRW, but also contribute to the creation of new jobs by hiring local talent.
Oh Kyungmin, CEO of Misak Co., Ltd., stated, "Our domestic sales will primarily consist of home appliance parts (80%) and automotive bracket molds (20%), while all direct exports will be automotive molds. By expanding our business through exports, we aim to operate in harmony with the local community, enhance our market competitiveness, and, starting this year, increase exports to create jobs and revitalize the local economy as we manage our company."
CEO Oh Kyungmin added, "We decided to establish a new factory in Hampyeong in response to increasing domestic and international demand. We aim to become a company that grows together with the local community and, starting in 2025, contribute to export expansion and the revitalization of the regional economy."
Governor Lee Sangik stated, "I would like to thank Misak Co., Ltd. for deciding to invest in our county. We will provide full administrative support to ensure the company can successfully settle here."
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