Gwangyang Bay Area Free Economic Zone Authority Secures Additional 20 Billion Won Investment from Chinese Company

Investment talks with semiconductor and bio companies in Shandong and Henan provinces

The Gwangyang Bay Area Free Economic Zone Authority has secured an additional investment of 20 billion won from an existing investor through investment promotion activities in China.

The authority said it conducted investment promotion activities from November 9 to 13, visiting Jinan in Shandong Province and Zhengzhou in Henan Province to meet with companies in the semiconductor materials, bio, and metal materials sectors.

On the 12th, the Gwangyang Free Economic Zone Authority visited Mingtai Aluminum, the headquarters of Gwangyang Aluminum, which invested in the Gwangyang Sefung Industrial Complex, in Zhengzhou, Henan Province, and signed a 20 billion won investment agreement to expand facilities for processing aluminum sheets. Photo provided by the Gwangyang Free Economic Zone Authority.

The main outcome of the trip was an agreement on an expansion investment by Gwangyang Aluminum. On November 12, the authority visited the Zhengzhou headquarters of Mingtai Aluminum, the parent company of Gwangyang Aluminum, and signed an investment agreement worth 20 billion won.

Gwangyang Aluminum plans to use its existing production facilities in the Gwangyang Sefung Industrial Complex to install additional equipment for processing aluminum sheets and strengthen its production capacity and product competitiveness.

Earlier, the authority visited Y, a semiconductor materials company, and H, a bio company, in Jinan, Shandong Province, and held investment consultations.

Y visited the authority in July to explore the industrial sites and investment conditions in the Gwangyang Bay Area. The company is reviewing investment opportunities in semiconductor materials, components, and equipment, drawing on the petrochemical industry in Yeosu, the materials industry at POSCO Gwangyang Works, and the logistics network at Gwangyang Port.

With H, the authority discussed potential domestic investment in bio and functional materials, export and import competitiveness through the use of Gwangyang Port, and support programs for foreign-invested companies, as well as ways to cooperate.

Kim Chajin, head of the Investment Promotion Division, said, "In addition to follow-up consultations with semiconductor materials companies and identifying potential investors in the bio sector, we have secured additional investment from an existing investor. We will strengthen tailored follow-up support, including assistance with permits and administrative procedures, to help turn companies' investment consultations into actual investments."

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