(c) Chungnam-do
Chungnam Province has ignited its drive to achieve its foreign investment attraction goals for the 9th popularly elected term by securing an additional investment from a global automotive parts specialist company in Germany.
On the 25th, the province signed a Memorandum of Understanding (MOU) with Germany's Webasto Group and Dangjin City at the Steigenberger Hotel in Frankfurt.
The investment agreement ceremony was attended by Governor Park Soo-hyun, who set off on a European business trip on the 22nd, Marcel Bartling, Vice President of the Webasto Group, and Dangjin Mayor Kim Ki-jae, who signed the MOU, alongside Kim Wan-il, President of Webasto Korea.
In addition, Provincial Assembly Chairperson Cho Chul-ki and Education Committee Chairperson Kim Eun-na attended, expressing the provincial assembly's commitment to supporting the investment agreement.
According to the MOU, Webasto decided to expand its factory in the Songsan 2-2 Foreign Investment Zone in Dangjin, investing $13.5 million over the next 5 years.
A new automobile battery pack line will be installed in the expanded factory.
Webasto also agreed to make efforts to provide more employment opportunities for Dangjin citizens through the expanded factory and other means.
The province and Dangjin City will provide administrative and financial support, such as permits and approvals, to ensure that Webasto’s factory expansion proceeds smoothly.
At the agreement ceremony, Governor Park Soo-hyun said, "Webasto has been a reliable partner that has grown together with Chungnam since 2020," adding, "This investment will serve as an opportunity to enhance not only Webasto's growth but also the competitiveness of Chungnam and South Korea's future mobility industry."
Governor Park continued, "Webasto is famous for automotive sunroofs, and I hope we will see more and more cars equipped with Webasto batteries, as well as roof systems, on Korean roads," emphasizing, "Chungnam will be the best investment partner so that Webasto can invest stably and grow continuously."
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