Companies Flock to South Chungcheong as Governor Kim Taeheum Attracts 500 Billion Won in Investment

Agreements Signed with 14 Companies...526 New Jobs Expected

Kim Taeheum, Governor of South Chungcheong Province

South Chungcheong Province has secured a foundation for strengthening regional industrial competitiveness by attracting investments of more than 500 billion won from 14 companies.

On the 26th, Governor Kim Taeheum of South Chungcheong Province signed investment agreements in the main conference room of the provincial government building with the heads and deputy heads of six cities and counties, and with representatives of 14 companies including Lee Dongju, CEO of Sungchang Autotech.

Under the agreements, the companies plan to invest a total of 509 billion won by 2029 in production facilities to build new plants, expand existing ones, or relocate them on a site of 500,064 square meters in industrial complexes across six cities and counties. The number of new jobs created is expected to reach 526.

In the Cheonan Northern BIT General Industrial Complex, four companies, including Sungchang Autotech, Hi-Semico, Ara, and Youngpoong Distribution, will build new production facilities or expand existing ones. In Seonghwan and Ipjang, Haetsal Food and O2 Bio will each promote the construction of a new plant and a plant relocation, respectively.

In Asan, Kyungdongwon will invest 191.4 billion won to expand its production facilities, and in Gyeryong, AI medical device company Nanosoft will relocate its plant.

In the Janghang National Ecological Industrial Complex in Seocheon, Offirex will build a new plant, while in Hongseong, Sucheon Heavy Industries will construct a new factory. In the Naepo High-Tech Urban Industrial Complex, Wolsan E&C and Top Biomedical will each promote the construction of new production facilities and the relocation of existing ones.

In Yesan, Hanmin Ecotech and Purit plan to build new plants for advanced materials and semiconductor chemicals.

The provincial government analyzed that this investment will generate economic effects including 820.4 billion won in production inducement, 311.3 billion won in value-added inducement, and employment inducement for 1,974 people.

Governor Kim stated, "We will create an environment in which companies that invest can be assured of success," adding, "Through venture investment funds, policy financing support, and an R&D linkage system, we will drive the sustainable economic growth of South Chungcheong Province."