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Chungnam-do newly designated a foreign investment district of 85,000㎡ in Tangjeong, Asan

According to Yonhap News,

Chungnam-do announced on September 10 that it newly designated and announced the area of 85,337 square meters in Galsan-ri, Tangjeong-meyon, Asan-si as a foreign investment district.

It is the 7th complex-type foreign investment district in the province. It is a 1km away from Samsung Display Complex.

The province plans to provide long-term rental of land to foreign-invested companies moving to the foreign investment district for building a factory for up to 50 years, with setting 1% of land price as a rental fee, among other financial benefits.

Currently, 3 foreign-invested companies have signed investment agreements (USD 119 million) with Chungnam-do, Asan-si, and preparing to move in.

The province anticipates that exports of KRW 2.875 trillion, and creation of KRW 1.835 trillion added-value over the next five years in this new foreign investment district.

Source Text

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Source: Yonhap News (September 10, 2021)

** This article was translated from Korean.