Province secures 1.53 trillion won from 27 firms in AI, semiconductors, displays, aerospace, batteries and food
South Chungcheong Province is accelerating its investment-attraction drive under its ninth popularly elected administration, securing large-scale investment from 27 companies spanning AI, semiconductors, displays, aerospace and other sectors.
The province signed a joint investment agreement Thursday at the provincial government's main conference hall, with Gov. Park Soo-hyun, the heads and deputy heads of eight cities and counties, and representatives of the 27 companies in attendance.
Under the agreement, the 27 companies will invest a combined 1.53 trillion won ($1.14 billion) to build, expand or relocate production facilities across a total of 568,672 square meters of land in industrial complexes in the eight cities and counties.
The investment covers the province's core industries and future high-tech sectors alike, including AI data centers, semiconductors, displays, secondary batteries, automobiles and aerospace.
Company A, a maker of automotive electronic components, will invest 113.5 billion won to relocate its Ansan factory to a 15,207-square-meter individually zoned site in Pungse-myeon, Cheonan.
Samyoung Sunhwa, a maker of ultra-high-purity hydrogen peroxide, will invest 98.9 billion won to expand its factory on an 11,460-square-meter site in the fifth general industrial complex in Cheonan.
Duksan Neolux, an OLED materials maker, will invest 66.8 billion won to build a new factory on a 43,547-square-meter site in the Cheonan Technopark general industrial complex. KD Choros Battery, a primary battery maker, will invest 36.5 billion won to expand production facilities on a 17,344-square-meter site in the Seonggeo general industrial complex in Cheonan.
In Asan, KS Autosys will invest 35 billion won to build a new factory making dry vacuum pumps for semiconductors on a 21,000-square-meter individually zoned site in Sinchang-myeon. Company B, a maker of automotive gaskets, will invest 16 billion won to relocate its Ansan factory to a 19,550-square-meter site in the Yeomchi general industrial complex.
INC Bio, a cosmetics ingredient maker, will invest 15 billion won to expand its factory on a 5,859-square-meter site in the Yeomchi general industrial complex.
In Seosan, SK On, a maker of lithium secondary batteries and ESS products, will invest 58.7 billion won to convert some of its electric vehicle battery lines into lithium iron phosphate battery production equipment for ESS use, across 28,000 square meters in two existing buildings at its Seosan factory.
In the Seosan Auto Valley general industrial complex, HVM, a maker of advanced metal components for aerospace, will invest 116.5 billion won to expand its factory on a 66,000-square-meter site. Kyungshin Wire, an automotive wire maker, will invest 63.5 billion won to expand its factory on a 33,135-square-meter site, and Muryong, a maker of automotive transmission parts, will invest 28.7 billion won to expand its factory on a 33,546-square-meter site.
In the Seosan Indus Valley general industrial complex, Woosung Metal, a maker of cast components for industrial machinery and lithium carbonate, will invest 30 billion won to expand its factory on a 37,856-square-meter site.
In Nonsan, Root Jade, a lithium secondary battery maker, will invest 27.1 billion won to expand its factory on a 7,727-square-meter site in the Gayagok agro-industrial complex, and Y&B Food will invest 15 billion won to expand its factory on a 30,743-square-meter site in the Ganggyeong 2 specialized agro-industrial complex.
In the Dongsan general industrial complex, Gaonhae, a distribution transformer maker, will invest 6.6 billion won to expand its factory on a 4,009-square-meter site.
In the Seokmun National Industrial Complex in Dangjin, Youngjin, an iron phosphate maker, will invest 52.4 billion won to expand its production factory on a 50,850-square-meter site, and LK Chem, a maker of thin-film deposition materials for semiconductors, will invest 33 billion won to build a new factory on a 13,223-square-meter site.
Eva Cycle, a black mass maker, will also invest 30 billion won to build a new factory on a 16,999-square-meter site in the Seokmun National Industrial Complex.
In the Bugok district of the Asan National Industrial Complex in Dangjin, JK Advanced Materials, a maker of cast polypropylene packaging film for food use, will invest 15 billion won to build new production facilities on a 4,924-square-meter site, and Global Dream Steel, a precision cold-drawn steel pipe maker, will invest 13.6 billion won to build a new factory on an 11,358-square-meter site.
In Geumsan, Top Meat, an agricultural corporation that processes livestock products, will invest 10 billion won to build a new factory on a 27,956-square-meter site in the Geumseong agro-industrial complex, and Daehan Hongsam, a health food maker, will invest 10 billion won to build a factory on an 18,473-square-meter individually zoned site in Jewon-myeon.
In the Janghang National Eco-Industrial Complex in Seocheon, Aton Industries, a maker of automotive urea solution, will invest 12 billion won to build a new factory on an 11,508-square-meter site, and Standards & Companies, an electrical and electronics product certification service provider, will invest 11.5 billion won to build a new factory on a 13,293-square-meter site.
In the Naepo Urban High-tech Industrial Complex in Hongseong, Optimus CDC will invest 600 billion won to build a new AI data center on a 14,130-square-meter site, and J-One Medics, a medical device maker, will invest 5 billion won to build a new factory on a 7,205-square-meter site.
Byul Food, a seasoned laver processor, plans to invest 10 billion won to build a new factory on a 3,770-square-meter individually zoned site in Gwangcheon-eup, Hongseong-gun.
The province expects the construction activity tied to these companies' site preparation and equipment purchases to generate a production-inducing effect of 1.92 trillion won, a value-added effect of 832.1 billion won and an employment effect of 10,247 jobs across the province.
Investment in high-tech industries — particularly AI data centers — is expected to upgrade the province's industrial structure and lay the groundwork for expanding the future industry ecosystem in AI, semiconductors and related fields.
Going forward, the province plans to focus its administrative efforts on follow-up management so that signatory companies' investments translate into actual groundbreaking and implementation, while concentrating on attracting large, high-quality companies in future high-tech industries such as AI and semiconductors.
"With today's agreement, a total of 1.53 trillion won ($1.14 billion) in investment will be made across the province, creating 1,811 new jobs," Gov. Park Soo-hyun said. "I hope this will build on the industrial strengths of the eight cities and counties, strengthen inter-industry linkages, inject vitality into the local economy and accelerate balanced growth across South Chungcheong."
"The province will support corporate investment through 'triple-force innovation' and 'light-speed administration,'" he added. "We will be a reliable partner so that companies' decision to choose South Chungcheong translates into even greater growth for them."
kwonhl@heraldcorp.com
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