Chungcheongnam-do

▲ MOU conclusion with Mapei

Chungnam-do got foreign investment of $70 million from secondary battery companies in worldwide. Also, they attracted Italian investment from an Italian constructional waterproof and adhesive company that has annual sales of about $3 trillion.

Governor An Hee Jung visited Europe to attract foreign investment and made business agreements with global companies Umicore(Belgium) and Mapei(Italy). At the same time, he and a deputy mayor Seo Chul Mo made an investment contract with Marc Van Sande(Vice president of Umicore) in Brussels, Belgium about building secondary battery material factories at Cheonan, Korea.

According to this MOU(Memorandum of Understanding), Umicore will invest $70 million to build secondary battery material factories in the Cheonan 3rd industrial district in Cheonan till 2021 and its size will be 83,187㎡.

This global company is running two factories in Cheonan, and planning to construct their 3rd factory in that area to prepare an expending market of electric vehicles and second batteries.

And, they attracted investment from Italian business group for the first time. Governor An executed MOU on the 29th  last month with Giorgio Squinzi(the chairman of Mapei) and Seo Chunl Mo(the deputy mayor of Cheonan) at the Headquarter of Mapei in Milano, Italy.  

According to MOU, Mapei will invest $15million to build a constructional water proof and adhesive factory in a foreign investment area of the Cheonan 5th industrial district.

Based on last year’s data, Mapei has 7,500 employees and 67 factories in 32 different countries, and their annual sales is about $3trillion.

Also, Cheonan made an investment agreement with Japanese business groups, Hana Materials and KOSO. By the agreement, Hana Materials will invest additional $10million(foreign direct investment) to the Cheonan(Beoksuk) foreign investment district to build a semiconductor part manufacturing plant(9917㎡) till 2017.

KOSO also will invest $10million(foreign direct investment) in the Cheonan 5th foreign investment district to build an industrial auto-adjust value manufacturing plant(18,227㎡).

Authorities of Chungnam-do said, “It’s very meaningful to have investment agreements with four global companies. By the agreements, we can lead the future markets like a secondary battery and electric vehicles.” And, “We will keep trying to find another country that we can invest our money and stimulate a foreign investment strategy for the Chungnam-do’s major industries like a semiconductor and steel.”