GWANGJU < invest Korea

Gwangju City signed investment agreements with nine promising SMEs on July 15, the first for the sixth elected municipal government. The City expects the agreements will create 180 new jobs with an investment of KRW 76 billion by the first half of next year.

The companies that reached the agreement with the City include five automobile parts manufacturers, a home appliance parts manufacturer, renewable energy company, 3D contents producer and high-purity alumina manufacturer.

The automobile parts manufacturers including Donghee High-tech, Najeon, and HyunSung Autotech are major business entities that represent Gwangju. The increase in the order volume of the automobile parts manufacturers in the region has led to the new investment of the 1 million car production city project promoted by Gwangju as the core project of the Gwangju municipal government.

- Total planned investment in automobile industry : KRW 40 billion, Employment plan : 70 new jobs

Eco Greentech, a small-and-medium-sized business that has its headquarter in Hwaseong, Gyeonggi Province, is famous for its advanced construction technology in the structure manufacturing of the renewable solar power plant. The Company will invest KRW 8 billion to build a plant in the Jingok Industrial Complex, which will create 20 new jobs by the first half of the next year.

CIS Inc., planning to move to the Jingok Industrial Complex, is the company known for its proprietary technical power in manufacturing high-purity alumina for semiconductor materials and LED lights. The company will invest KRW 20 billion by the first half of next year and create 50 new jobs.

"We strategically attracted the nine companies to sign the investment agreement considering the amount of investment and the size of the company. We will strive to create good quality jobs by focusing on the customized investment management for each company," said a Gwangju City official.

Source: Gwangju Metropolitan City (August, 2014)