GWANGJU < invest Korea

According to Yonhap News,

(Gwangyang=Yonhap News) Reporter Son Sang-won = Enterprises in future strategic industries—including energy, offshore wind power, and defense—have pledged investments totaling over KRW 1 trillion in the Gwangyang Bay Area within Jeonnam-Gwangju.

The Gwangyang Bay Area Free Economic Zone Authority (GFEZ) announced on the 9th that it signed investment agreements totaling KRW 1.0655 trillion (USD 801.13 million) with four companies—CGN Yulchon Power, EEW KHPC, WithPS, and Hitech Engineering—at the Sono Calm Hotel in Yeosu.

Local autonomous governments, including the Jeonnam-Gwangju Integrated Special City as well as Yeosu, Suncheon, and Gwangyang cities, also participated in the agreement.

The specific corporate investment commitments comprise:
- CGN Yulchon Power: The Chinese-capital foreign direct investment (FDI) enterprise will invest KRW 900 billion (USD 676.69 million) in the Yulchon Industrial Complex to construct a 557 MW natural gas combined-cycle power plant.
- EEW KHPC: The German-headquartered company will commit KRW 122.8 billion (USD 92.33 million) to expand production facilities for offshore wind substructures in the East Distripark of Gwangyang Port.
- WithPS: The company will inject KRW 22.7 billion (USD 17.07 million) into the Haeryong Industrial Complex to build manufacturing infrastructure for specialized generators used in the defense sector.
- Hitech Engineering: The firm will invest KRW 20 billion (USD 15.04 million) in the Yulchon Industrial Complex to establish fabrication and assembly facilities for industrial plant modules and steel structures.

The GFEZ anticipates that when materialized, these investment agreements will create 238 direct new jobs and significantly reinforce regional industrial foundations spanning energy, offshore wind power, industrial plants, and defense manufacturing.

Concurrently with the MOU ceremony, the Gwangyang Bay Area Foreign Investment Promotion Forum was convened, bringing together representatives from foreign chambers of commerce in Korea, the Korea Foreign Company Association (FORCA), and the Korea Trade-Investment Promotion Agency (KOTRA) to review the region's investment environment.

Koo Choong-gon, Commissioner of GFEZ, stated, "We will exert every effort to elevate the international recognition of the Gwangyang Bay Area and continuously build global cooperation networks to stimulate foreign capital attraction."

sangwon700@yna.co.kr



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Source Text

Source: Yonhap News (September 09, 2026)

** This article was translated from Korean.