Startup Fostered by South Chungcheong Opens 460 Billion Won Export Path

GNT and German PRETTL Launch Full-Scale Partnership
Local Production and Expansion into the Asian Market Planned

Leveraging strategic support from South Chungcheong Province, a local startup has secured a global export contract worth 460 billion won, marking a bold entry into the Asian market.

Eco-friendly automotive parts company GNT and German global automotive electronics company PRETTL are set to launch a full-scale partnership, including local production and joint development in the province.

On December 26, Governor Kim Tae-heum signed a letter of intent for investment cooperation in the provincial government situation room, attended by GNT CEO Son Ilsu and PRETTL Group CEO Billy Franz Prettl.

According to the letter of intent, PRETTL expressed its intention to invest in producing emergency backup power equipment in South Chungcheong and jointly developing the equipment with GNT.

GNT will be responsible for supplying the equipment to the domestic and Asian markets and operating service centers.

The province plans to provide administrative support to ensure smooth progress of the partnership, based on PRETTL's intention to purchase emergency backup power equipment.

The local government also expects this collaboration to strengthen GNT's business expansion and export growth, thereby reinforcing the province's manufacturing base.

GNT, a startup specializing in eco-friendly automotive converters and other electronic components, was founded in 2022. Its headquarters and research center are located in Cheonan, and it is currently working to establish a manufacturing plant at Hoseo University in Asan.

In October last year, GNT participated in South Chungcheong’s overseas market development delegation and, after meeting PRETTL at the World Korean Business Convention in Vienna, Austria, signed a letter of intent (LOI) under which PRETTL Group will purchase 460 billion won worth of GNT products by 2030.

PRETTL Group is a leading German global automotive electronics company and a primary supplier to Bosch. It currently employs about 13,000 people across 25 countries.

Previously, in June, Governor Kim signed an investment memorandum of understanding (MOU) with GNT, supporting the company’s plan to invest 3 billion won in a 6,611-square-meter site in Hoseo Venture Valley to establish production facilities by June 2027.

Additionally, during a business trip to Europe in July, Governor Kim met with the PRETTL CEO to discuss cooperation between the two companies and the possibility of PRETTL investing in Korea.

The province aims to use this letter of intent as a starting point to systematically develop a cooperation model between local startups and global companies, thereby simultaneously expanding the region’s manufacturing and export base.