CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

On February 6, Jincheon-gun, Chungbuk-do announced that it has recently signed its first investment agreements this year with three companies.

On January 30, the country signed investment MOUs worth KRW 104.9 billion with three companies (Hosung Industrial, Seohan Innobility, KumKang), tenants of Jincheon Technopolis Industrial Complex, which is currently being built in Sadang-ri, Iwol-myeon.

With this agreement, the sales rate of Technopolis Industrial Complex reached 93%.

An official from the county said, "as we are scheduled to sign investment agreements with companies, we will have no difficulty in attracting KRW 1 trillion for the ninth consecutive year."

The county said that the amount of investment attracted from companies surpassed KRW 1 trillion every year in 2016 (1.9 trillion) -2023 (KRW 1.3 trillion), which led to more than 17,000 job inducement effect.

The county has been striving to lay the foundation for attracting investment from companies.

The Technopolis Industrial Complex attracted attention as Taegyoung E&C, which recently entered the workout program, participated in the construction project.

Taeyoung owns 80 percent of 'Jincheon Technopolis Development', the developer of the project and a special purpose corporation (SPC). Jincheon-gun owns the remaining 20%.

An official from the county said, "despite the recent setback, the developer is pushing for the project by itself and the funds are separately operated. Thus, construction will be completed in the first half of next year without a hitch."

A county official said, "we will carry out active investment attraction strategies to secure the competitive advantage in the face of increasingly heated competition to attract high-tech industries."

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Source: Yonhap News (February 6, 2024)