Two Wonju-based companies have agreed to invest nearly 20 billion won in new factory construction.
Two Wonju-based companies have agreed to invest nearly 20 billion won in new factory construction.

Danjung Bio, a cosmetics ingredient producer, and Ewha P&C, a cosmetics packaging specialist, will invest a combined 19.6 billion won ($14.6 million) in Wonju, Gangwon Province, building new factories in the Bangye-ri area.

Danjung Bio CEO Jeong Eui-su, Ewha P&C CEO Lee Jong-nam, Gangwon Province Deputy Governor for Economy Shin Won-cheol and Wonju Mayor Gu Ja-yeol signed an investment agreement at Wonju City Hall on Friday.

The two companies plan to complete their investments by the end of 2027, constructing new factories in Wonju to establish a production base.

Founded in Wonju in 2009, Danjung Bio specializes in natural materials, producing cosmetics, food and pharmaceutical ingredients derived from extracts of native Korean plants, as well as finished cosmetics using natural raw materials.

The company plans to invest 10 billion won to expand its equipment and infrastructure as it broadens its business into new areas, including diagnostic kits for dementia in companion animals and functional feed additives.

Ewha P&C, a specialist in plastic cosmetics packaging, has been based in the region since relocating its headquarters to Munmak, Wonju in 1998. The company holds large-scale production capacity for cosmetics containers, and the 9.6 billion won investment under the new agreement is expected to strengthen its ability to serve both domestic and overseas cosmetics packaging markets through expanded production facilities.

Industry representatives present their investment plans.
Industry representatives present their investment plans.
Industry representatives present their investment plans.
Industry representatives present their investment plans.

Gangwon Province Deputy Governor for Economy Shin Won-cheol said he "sincerely welcomes" the two companies' decisions to build new factories in the province, adding that expanding research and production facilities for natural materials "is expected to strengthen the competitiveness of the regional biotech industry in tandem with Gangwon Province's efforts to foster its natural products sector."

Shin said the province would "actively support" efforts to build a virtuous industrial ecosystem in which attracting companies leads to an expanded industrial base and quality job creation, linking the investment to the provincial administration's biotech industry development strategy.


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