Continued Achievements of the Suseong Medical District and Technopolis for Expanding the Domain of FDI to China and Vietnam!
- 13 million dollars investment into the display8 and semi-conductor production equipment and automobile R&D
DGFEZ held an MOU signing ceremony at the Grand Meeting Room of the City Hall at 11:30 am on December 21, with Yeonchang Kim, Economic Vice Mayor, Yeongil Gwon, the CEO of OST Co., Ltd., and Seojae Paik, the CEO of Daeyeong Electronics Co., Ltd. The ceremony was held in celebration of the investment MOU signing for building a factory to manufacture the manufacturing equipment for display and semiconductor production and an auto-part R&D facility in Technopolis and Suseong Medical District FEZ.

As Technopolis and Suseong Medical District induced one FDI company for each, Technopolis induced its 12th, while Suseong Medical District its second, FDI. As a result, DGFEZ so far has induced 22 FDI companies from 11 different companies.

As other parts of DGFEZ, such as Pohang Convergence Technology Industrial Complex and Yeongcheon High Tech Park District, select the developer and begin their development in earnest, it is believed that the successful inducement of the FDIs may affect the FDI inducement activities of the said two areas significantly .

OST Co., Ltd. (CEO: Yeongil Gwon), which signed an MOU to build its new facility in the Technopolis is a company that manufactures the machines used to make flat display and semiconductors. The plan for this company is to invest around 15.5 billion won, which includes an investment of 7.5 million dollars from a Chinese partner, to make machines used to build semiconductors or flat displays. Most of the products from this factory are planned to be sold to LG Electronics, as well as Samsung Electronics and Chinese customers.
Also, with this expansion of the facility, the man power and equipment stationed in a leased factory of 16,500㎡ in Pyeongtaek and Cheonan will be relocated to the new facility, creating around 120 new jobs and further invigorating the local economy.

In addition, Daeyeong Electronics Co., Ltd. (CEO: Seojae Paik) struck a joint investment deal with the NTD Group of Vietnam. As a result, the company will relocate its HQ into Suseong Medical District and the corporate research centers which used to be scattered in Gwangju, Soowon, and Pyeongtak are to be integrated in the new R&D facility in the district. The total investment volume for this project is around 30 billion won, including 5.5 million dollars of FDI. It is believed that this move will create 250 new jobs in the area, which may absorb a large number of talented local job seekers.

On the other hand, Commissioner Inseon Lee, who has been busy spending his first month in the office visiting the districts and attending investment briefings, said, “After we had those FDIs who wish to settle in Gyeongsan Knowledge Industrial Complex, we signed MOUs with two distinguished FDIs willing to invest in Technopolis and Suseong Medical District,” adding, “The FDI inducement of this time is more significant as it marked the beginning of a diversified trend of investors, which were used to be limited to those from the US, Japan, or Europe.” He also said, “We will establish investment plans in order to induce additional investments in multiple aspects and give our best for DGFEZ to take the leading role in invigorating the local economy and creating jobs.”