According to Yonhap News,

A high-tech materials company from France and Belgium will invest USD 62 million (approximately KRW 85 billion) to expand production facilities in Cheonan, Chungnam-do.

Kim Tae-heum, Governor of Chungnam-do, who is currently visiting Europe to attract investments, signed a Memorandum of Understanding (MOU) with Air Liquide, a French industrial gas production company, and Umicore, a Belgian secondary battery materials company, in Paris on July 24th (local time). The signing ceremony was attended by Kim Seok-pil, Acting Mayor of Cheonan, among others.

The two companies plan to invest a total of USD 62 million in the Cheonan industrial complex to expand their production facilities.

Air Liquide, a company producing industrial and medical specialty gases, established its factory in Cheonan in 1998 and has continuously expanded its facilities. Based on its expertise in advanced materials, the company has a global supply chain and secures supply chains for key industries such as semiconductors, displays, batteries, and aerospace, based on high-purity rare gases.

Umicore also entered Cheonan in 1999 and operates Asia's largest research and development center and three production facilities. With this investment, the company plans to transition its existing production facilities to focus on high-nickel materials and strengthen its capabilities in producing environmentally friendly high-value-added materials.

At the signing ceremony, Governor Kim Tae-heum stated , "The close collaboration between these two companies and Chungnam-do, which has continued since the 1990s, has been a driving force for corporate growth and regional economic development. We will work to build deeper trust with these companies and become the best cooperation partners."

Representatives from the two companies also promised to expand their investments in Chungnam-do.

Matt Cherevaty, Senior Vice President of Umicore, said, "The sincere support and efforts of Cheonan and Chungnam-do have been the cornerstone of the expansion of our production facilities," and Nicolas Foirien, CEO of Air Liquide Korea, emphasized, "We are making various efforts to promote long-term projects, including the establishment of industrial rare gas equipment facilities."

Earlier, Governor Kim met with François Jackow, CEO of Air Liquide, to share global economic conditions and discuss ways to expand foreign investment.

CEO François Jackow of Air Liquide also serves as the President of the Korea-France Business Committee under the MEDEF International, which is France's largest private economic organization, similar to the Federation of Korean Industries (FKI).

During the meeting, Governor Kim referred to the recent heavy rain damage in Chungnam-do and stated, "Despite the difficult situation, I am here to fulfill my duties and keep my promises," adding, "Let’s discuss meaningful projects between French companies and Chungnam-do to commemorate the 140th anniversary of Korea-France diplomatic relations next year."

François Jackow responded, "I am well aware of Chungnam-do’s efforts toward carbon neutrality," and said, "Air Liquide is investing for the future and is committed to policies such as hydrogen and other eco-friendly energy initiatives."


jkhan@yna.co.kr
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Source: Yonhap News (July 24, 2025)

** This article was translated from Korean.