Gwangyang City Signs Trillion-Won Investment Agreements

Investment Agreements Worth 1.0428 Trillion Won Signed with Three Companies

Gwangyang City, Jeonnam-Gwangju Integrated Special City, announced that on September 9, at the '2026 Yeosu World Islands Expo Linked Gwangyang Bay Area Foreign Investment Activation Forum and Investment Agreement Event' held at the Sono Calm Hotel in Yeosu, it signed investment agreements totaling 1.0428 trillion won with CG&Yulchon Power Co., Ltd., EEW-KHPC Co., Ltd., and Hightech Engineering Co., Ltd.

The event was attended by Min Hyungbae, Mayor of Jeonnam-Gwangju Integrated Special City, Park Seonghyun, Mayor of Gwangyang, Seo Younghak, Mayor of Yeosu, Son Hunmo, Mayor of Suncheon, Koo Choonggon, Commissioner of Gwangyang Bay Area Free Economic Zone Authority, as well as representatives of the contracting companies, businesspeople from Korea and overseas, members of foreign chambers of commerce in Korea, foreign embassies in Korea, and around 200 related officials. The program included a forum on foreign investment activation, investment agreement signing ceremony, and an on-site visit to industrial complexes in the Gwangyang Bay Area.

On the 9th, at the SonoCalm Hotel in Yeosu, the "2026 Yeosu World Islands Expo-linked Gwangyang Bay Area Foreign Investment Activation Forum and Investment Agreement Event" was held, where CG&Yulchon Power Co., Ltd., EEW-KHPC Co., Ltd., and Hightech Engineering Co., Ltd. signed investment agreements totaling 1.0428 trillion won. (Photo shows Mayor Park Sunghyun delivering a greeting) Provided by Gwangyang City

First, CG&Yulchon Power Co., Ltd. plans to invest 900 billion won in Yulchon 1st General Industrial Complex to build a 557 MW class natural gas combined cycle (cogeneration) power plant, hiring 55 new employees. This will address the demand for electricity and heat in the complex and neighboring areas, establishing a stable energy supply base.

EEW-KHPC Co., Ltd. plans to invest 122.8 billion won in the eastern hinterland of Gwangyang Port and hire 83 new employees. By expanding its offshore wind substructure production facility, the company aims to increase production capacity and respond to the growth of the offshore wind market domestically and internationally.

Hightech Engineering Co., Ltd. will invest 20 billion won in Yulchon 1st General Industrial Complex and employ 60 new employees. The company plans to build production facilities for industrial plant modules and steel structures to meet the demand for plant construction in the semiconductor, oil refining, and chemical industries, thereby enhancing its production capacity and competitive edge in plant manufacturing.

Under this agreement, the three companies will invest in the areas of LNG power generation, offshore wind substructures, and industrial plants, creating a total of 198 new jobs.

Gwangyang City expects that this investment, in conjunction with existing industrial and port infrastructure, will strengthen competitiveness in the energy, offshore wind, and plant sectors, boost job creation and stimulate the local economy, as well as contribute to securing future growth engines.

Park Seonghyun, Mayor of Gwangyang, stated, "The Gwangyang Bay Area, centered on Gwangyang Steelworks, Yeosu National Industrial Complex, and Gwangyang Port, has supported Korea's industry, and its well-established industrial and logistics infrastructure is a clear strength of our region." He added, "I hope that the companies participating in these agreements will leverage this strength to achieve greater growth and contribute to the mutual prosperity and joint development of the Gwangyang Bay region."

He continued, "We will further strengthen investment conditions and support infrastructure so that companies can conduct their business stably and achieve results, making Gwangyang 'the best city to do business' and 'the industrial capital of Korea.'"

This content was produced with the assistance of AI translation services.