"More Jobs on the Way"... Changwon Special City Signs 1.55 Trillion KRW Investment Agreements with Six Companies

Expectations for Revitalizing the Local Economy
with the Creation of 1,000 New Jobs

The news of large-scale corporate investments in Changwon is raising hopes for a revitalized local economy.

On October 28, Changwon Special City announced that it had signed investment agreements worth a total of 1.55 trillion KRW with six companies at the "2025 Gyeongsangnam-do Investment Promotion Briefing" held at the Westin Chosun Seoul Hotel in Jung-gu, Seoul.

Changwon Special City Signs Large-Scale Investment Agreement Worth 1.55 Trillion Won with Six Companies.

The signing ceremony was attended by Jang Geumyong, Acting Mayor of Changwon Special City, Kim Myeongju, Vice Governor for Economic Affairs of Gyeongsangnam-do, the mayors and governors of Jinju, Sacheon, Miryang, Yangsan, and Changnyeong, as well as 17 representatives from the investing companies, with over 300 participants in total reaffirming their commitment to revitalizing the local economy and creating jobs.

The six companies-Doosan Enerbility, Hyosung Heavy Industries, Hyundai Glovis, Hanwha Power Systems, MNSI, and KSEP-that signed agreements with Changwon City plan to invest a total of 1.55 trillion KRW in the Changwon National Industrial Complex and Dongjeon General Industrial Complex, aiming to create over 1,000 new jobs.

Through this agreement, Doosan Enerbility will carry out large-scale investments at its Changwon site to respond to rapid changes in the nuclear power industry and to secure an early lead in the fast-growing small modular reactor (SMR) market. This investment will establish a large-scale SMR-exclusive production facility capable of manufacturing 20 reactors annually, thereby strengthening competitiveness in the next-generation nuclear power industry.

Hyosung Heavy Industries held a groundbreaking ceremony for its HVDC transformer plant in July and is accelerating the localization of proprietary technology in the HVDC (High Voltage Direct Current) market. The company also plans to expand its high-voltage transformer and circuit breaker plants to proactively meet the increasing power demand of future industries.

Hyundai Glovis, a leading comprehensive logistics company, has secured a 94,938-square-meter plot in the second-phase hinterland of the Busan-Jinhae Free Economic Zone's Ungdong District. The company plans to build a state-of-the-art integrated logistics center and a large-scale yard to further strengthen its competitiveness in maritime forwarding.

Hanwha Power Systems, in response to the expanding energy, marine, and eco-friendly sectors, plans to establish and operate infrastructure for the collaboration and development of gas turbines based on carbon-free fuels (such as hydrogen and ammonia) within Changwon.

MNSI, a specialist manufacturer of auxiliary devices for internal combustion engines and ship engines, will build a new plant for ship fuel supply modules and other products in the Changwon National Industrial Complex to expand its business in response to growing domestic and international demand.

KSEP, a precision steel pipe and auto parts manufacturer based in Miryang, will open a new facility in the Dongjeon General Industrial Complex in Changwon to expand its business in developing high-efficiency motors for advanced mobility.

At this event, Changwon City operated an investment promotion consultation booth and conducted one-on-one customized investment consultations with potential investors, actively promoting the city’s excellent industrial infrastructure and incentive systems to attract more companies.

Jang Geumyong, Acting Mayor of Changwon Special City, stated, "At this critical moment when we must secure future growth engines for Changwon, I deeply appreciate the bold investment decisions made by leading conglomerates and promising mid-sized companies in various sectors. This investment will serve as a significant turning point, driving new growth momentum for Changwon’s economy."

He added, "We will make every effort to attract investments by proactively responding to the rapidly changing industrial environment and pursuing sustainable growth."