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Gyeongsangbuk-do Provincial Government Signed 17 MOUs for Investment Totaling KRW 2.4 Trillion in 2024 상세내용
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- Gyeongsangbuk-do Provincial Government Signed 17 MOUs for Investment Totaling KRW 2.4 Trillion in 2024
- 등록일2024-09-12 00:00:00
- 작성자 Investment [☎0548804630]
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- Achieved promising results in some sectors, such as secondary batteries, despite tough economic conditions in Korea and globally
- Held briefings in Korea and globally for the return of Korean companies that had advanced overseas
The Gyeongsangbuk-do Provincial Government announced that despite the tough economic conditions in 2024, including economic slowdown due to high interest rates and decreased demand for electric vehicles (EVs), it made significant achievements, including attracting new investments from companies in the field of secondary batteries, increased investments from foreign firms, and the return of Korean companies that had advanced overseas to the region.
Despite the global slowdown in EV demand, the province attracted numerous investments in the secondary battery sector this year, following the trend last year. This year, severalmemoranda of erstanding (MOUs) were signed in the secondary battery industry. In March, it signed an MOU with Gumi’s ISU Special Chemical for KRW 300 billionworth of investment in all-solid-state batteries, followed by an MOU worth KRW 130 billion in investment in secondary battery separators with Gyeongsan’s TCMS in April. In the same month, Gumi’s People and Technology (PNT) signed an MOU for KRW 100 billion of investment in a plant producing secondary battery positive electrode active materials. Meanwhile, in July, an agreement was signed withUnicoh ESS, a joint venture between Pohang’s Unicoh Specialty Chemicals and Australia’s AVESS Energy,to establish a vanadium redox flow battery (VRFB) electrolyte production plant in the Yeongilman General Industrial Complex in Pohang.
Efforts were also made to attract investments for the expanded construction of plants from foreign companies operating in Korea. In May, Toray Group, the world’s leading carbon fiber company of Japan, agreed to invest an additional KRW 500 billion in Gumi by 2025. This investment will be used to expand production facilities for aramid fibers, IT material films, and secondary battery separators. As such, a total of 17 investment MOUs worth approximately KRW 2.4 trillion in investment were signed this year as of August.
In August, the Gyeongsangbuk-do Provincial Government actively provided administrative support to secure investment sites. Furthermore, in collaboration with the Gumi Municipal Governemnt and Korea Asset Management Corporation (KAMCO), an MOU for the sale of national and public properties within Gumi National Industrial Complex 4 was signed to make use of idle and erutilized land. Despite its high usage potential, a 66,000m2-large plot in the complex had been neglected because of complicated shared ownership issues and the MOU has ed the way for its use
Several companies that had previously signed MOUs have steadily completed the construction of their plants and our efforts have paid off. In August 2021, Kolon Industries agreed to invest aro KRW 298 billion in expanding aramid production facilities in Gumi. This investment was completed in February this year, securing an additional annual production capacity of 7,810 tons. KH VATEC, an EV parts manufacturer, invested KRW 27.8 billion from 2023 until March this year to construct manufacturing facilities in Gumi. In addition, WONIK QnC, which owns global production s in Taiwan, Germany, and other countries, has completed expanding its semiconductor quartz ware manufacturing facility in Gumi by investing KRW 140 billion since 2022 to take advantage of Gumi’s designation as a specialized semiconductor complex.
Recently, our provincial government has ramped up efforts to encourage companies that had expanded overseas to return to Korea. In August, a meeting was held in Gyeongju for local automotive parts companies with overseas operations to discuss their return to Korea. On September 26, an ination session will also be held in Beijing, China, and in October, the provincial government plans to hold a meeting for local electro-mechanical and electronic companies with overseas operations to discuss their possible return to Korea.
“The tougher the economic conditions, the more crucial it is to actively attract investment. In the second half of this year, we will intensify our efforts to more aggressively attract investment,” emphasized Head Lee Nam-eok of the New Consolidated Airport Investment Headquarters of Gyeongsangbuk-do Provincial Government. “We will actively strive to revitalize the local economy through inidual investment attracting activities targeting key companies and collaborate with private sector experts,” he said.
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- 담당부서 :
- Gyeongsangbuk-do Provincial Gove
- 전화번호 :
- 054-880-4614
