Yangsan City Signs 48 Billion Won Investment Agreement with SK Industry and E&Co

October 28, 2025 Gyeongnam Province Investment Promotion Briefing Session

On October 28, Yangsan City in Gyeongnam Province signed investment agreements (MOUs) totaling 48 billion won with SK Industry and E&Co at the 2025 Gyeongnam Province Investment Promotion Briefing Session held in Seoul.

2025 Gyeongnam Province Investment Promotion Briefing Session Investment Agreement Signing. Provided by Yangsan City

Currently, the two companies are headquartered in Yangsan and Busan, respectively. They plan to relocate and expand their factories to the Deokgye Gyeongdong Smart Valley General Industrial Complex and the Gasan General Industrial Complex, creating a total of 35 new local jobs.

SK Industry is an automotive parts manufacturing company specializing in the production of key components such as injection-molded and pad parts for automobiles. The company has achieved rapid growth in a short period, strengthening its production capacity and quality competitiveness. By 2029, SK Industry will establish a new factory in the Deokgye Gyeongdong Smart Valley General Industrial Complex, investing 40 billion won and hiring 21 new employees, thereby further enhancing its production capabilities and product quality to boost corporate competitiveness.

E&Co develops advanced equipment, including marine plant component design, and focuses on manufacturing eco-friendly energy transportation facilities such as LNG and hydrogen. By investing 8 billion won and expanding its workforce by 14 employees in the Gasan General Industrial Complex by 2026, the company aims to strengthen its competitiveness in the eco-friendly energy industry and lead technological innovation.

Yangsan City will provide customized administrative support throughout the entire process, including permits, factory facility construction, and infrastructure development, to ensure that both companies can proceed with their investments smoothly and efficiently. The city is also considering financial support based on the scale of investment.

When companies meet the requirements for each investment type, the city actively supports stable investments through a variety of incentives: for new or expanded investments, up to 8% of facility investment costs with a maximum of 15 billion won; for relocation of companies from outside the province, up to 5% of facility investment costs with a maximum of 1 billion won; for special support to medical companies, up to 10% of investment costs with a maximum of 600 million won; and for interest-free loans for land purchases, up to 30% of the land purchase cost.

This investment agreement is expected to not only boost the sales of newly established industrial complexes but also strengthen the competitiveness of local industries and inject new vitality into the regional economy.

Mayor Na Dongyeon stated, "I deeply appreciate the two companies for believing in Yangsan City's potential and deciding to invest," adding, "We will do our utmost to create an investment environment where companies can grow with confidence."