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19 companies invest KRW 600 billion in 6 cities and counties of Chungnam

According to Yonhap News,

(HONGSEONG=Yonhap News) 19 domestic companies will invest KRW 600 billion in 6 cities and counties in Chungnam to build or expand plants.

Chungnam governor signed joint MOU with mayors of 6 cities and counties (Cheonan, Asan, Dangjin, Chengyang, Yesan, and Taean), and CEO of Daesang Life Science, and others at the provincial government office on July 1.

19 companies are going to build or relocate plants on the sites of 537,411 square meters in 6 cities and counties, employing 730 persons.

Daesang Life Science, a producer of foods for patients and health functional drinking, is to invest KRW 36 billion on the site of 16,148 square meters in Cheonan-2 Industrial Complex to build a new factory until later next year.

ID system, a producer of electronic application products, is to invest KRW 5.1 billion on 2,718 square meters site in Cheonan Pungse Industrial Complex until June 2021, while Natural Eco, a producer of eco-friendly construction interior materials is to invest KRW 17 billion on 31,547 square meters in Songjeong-ri, Byeongcheon-meyon, Chaonan until June next year.

In the inland areas including Cheongyang and Yesan, six companies including SM Chemical, Namyeong Industry, Aone Chemical are to invest KRW 59.3 billion.

The province expects that if 19 companies make investment as planned and operate plants, economic effects of KRW 410.13 billion of production amount, KRW 96.51 billion of added-value will be generated.

Chungnam governor said ,"Germany could emerge as a manufacturing powerhouse thank to strong SMEs," adding that "We will not spare any efforts in providing administrative and financial support so that SMEs can grow into capable companies like German's hidden champions."

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Source Text

Source: Yonhap News (July 1, 2019)

** This article was translated from Korean.


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