Chungcheongnam-do

▲ An MOU signed on the 8th with Oman Oil Company at the Muscut Intercontinental Hotel, Oman.

Amid the risks of global financial crisis, Chungcheongnam-do realized the result of attracting important foreign investments including Japanese capital of USD 59 million and oil money worth USD 100 million.
On September 28, Chungcheongnam-do signed with 3 Japanese companies at the New Otani Hotel in Tokyo, Japan MOUs specifying that they would make investments in joint venture companies in the province worth USD 59 million to build world premier materials (WPM) for semiconductors and display.
During the MOU signing ceremony, About 20 luminaries attended including Chungcheongnam-do Governor An Hee Jung, Seo Yong Jae, Acting Mayor of Seosan City Asan City Deputy Mayor Kim Seok Jung, Yokoyama Ryoichi, President of Mitsubishi Rayon, Sinobu, Managing Director of Ube Industries, Seo Young Sam, Senior Managing Director of Samsung Mobile Display, Jung Ji Yeon, President of SoulBRain, etc.
For the investment plans, ▶ Mitsubishi Rayon, the No. 1 petrochemical company in Japan, is to invest an additional USD 30 million for the next 5 years in the HEMA (Hydroxyethyl Methacrylate) Project to be set up in the Seosan plant site of Daesan MMA, a joint venture with Honam Petrochemical Corporation. ▶ Ube Industries is to make new investment worth USD 9 million in the Asan Tangjeong Plant of SUM, a joint venture with Samsung Mobile Display (SMD), to produce flexible display materials. ▶ SoulBrain is to make an investment worth USD 20 million in a joint venture with a Japanese company established in Geomsang-dong, Gongju to expand plant facilities for producing materials for semiconductors and display including OLED.
According to Chungcheongnam-do, the Japanese companies’ investment decisions are expected to product direct and indirect effects of employing about 1,500 workers by 2015 plus exports worth KRW 136 billion and import substitution effect worth KRW 656 billion. Following this success, Chungcheongnam-do succeeded in attracting Japanese capital worth USD 35 million (KRW 42 billion) on October 28.
While on tour of 3 Asian states to expand exchanges with these countries in the field of tourism and culture and to attract foreign capital investments, Governor An Heejung and Asan City Deputy Mayor Kim Seok Jung signed an investment MOU that same day in Tokyo, Japan with Teijin President Kubo Kenji and No Seung Ik, CNF (joint venture with Teijin Korea) President.
Under this MOU, Teijin is to invest USD 35 million in the area of Songyong-ri, Dunpo-myeon, Asan City by the end of 2012 to build a plant for the production of secondary battery separator materials.
Chungcheongnam-do expects the full-fledged operation of this plant to help tremendously in the stable supply of secondary battery separator materials, which are world premier materials (WPM) in the fields of electric cars and display. It plans to develop a mecca for the electric car and display industries in the northern region of the province. The attraction of investments is expected to produce the effect of generating sales worth KRW 218 billion, direct employment of 120 persons, and exports worth KRW 111 billion for the next 5 years. Furthermore, on November 8, Chungcheongnam-do signed an investment agreement with Oman Oil Company (OOC) to build the No. 4 generator for the LNG power plant in Bugok Industrial Complex in Dangjin-gun, Chungcheongnam-do.
Governor An Heejung, who visited Oman to attract foreign capital, signed with CEO Mulhan Al-Jarf of OCC, Dangjin-gun mayor Lee Chul Whan, and GS EPS CEO Lee Wan Gyeong an MOU to build an LNG power plant in the area (26,500㎡) of the Bugok Industrial Complex in Songak-myeon Dangjin-gun. Under this MOU, OCC agreed to invest USD 100 million in building the power plant. Chungcheongnam-do plans to start building the plant in 2012 with a total of KRW 600 billion to complete it in 2014, aiming at annual production of 800㎿ of electricity.