Signed MOU for Investment Attraction with Pyeongtaek City
New Car, Used Car, and PBV Exhibition Center to Be Built on 28,000 m² Site
Kia will expand the scale of its investment in the 'Pyeongtaek Mobility Hub Center' (tentative name), which is currently under construction in Pyeongtaek City. On July 17, Pyeongtaek City announced that it had signed a memorandum of understanding (MOU) with Kia on July 16 regarding this investment expansion.
Vice President Jung Wonjung of Kia (left) and Mayor Jung Jangsun of Pyeongtaek are holding a memorandum of understanding (MOU) to expand the investment scale of the Pyeongtaek Mobility Hub Center. Provided by Pyeongtaek City
The 'Pyeongtaek Mobility Hub Center' is an exhibition center for new cars, certified used cars, and purpose-built vehicles (PBVs) that Kia is developing on a 28,013-square-meter site in Hyeongok-ri, Cheongbuk-eup. Construction began in 2022 and is scheduled for completion within this year.
With this MOU, Kia will increase its investment in the center by 4.97 billion KRW, raising the total from the originally planned 68.5 billion KRW to 118.2 billion KRW.
Through this additional investment, Kia aims to create an industrial cluster related to automobiles and generate synergy effects between different sectors. Pyeongtaek City also expects to secure stable tax revenue, high-quality jobs, and a new cultural space.
The center will be developed as a multi-purpose cultural complex, equipped with facilities such as exhibition halls, a customer test-driving track, walking trails, a park, and a dog playground. In particular, the center will be connected to the Pyeongtaek Service Area on the Pyeongtaek-Jecheon Expressway, making it accessible to both highway users and local residents.
Jung Wonjung, Vice President of Kia, said, "We are pleased to be able to expand the center in Pyeongtaek City, which is fostering the future mobility industry," adding, "We will develop the center as a foundation for corporate growth and mutual prosperity with the local community."
Jung Jangsun, Mayor of Pyeongtaek, stated, "The Pyeongtaek Mobility Hub Center will become more than just an industrial facility; it will serve as a symbol of Pyeongtaek City's future automobile industry. We will collaborate with Kia to ensure the successful operation of the center."
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