Jeollanam-do and Ecoshell signed a KRW 21.4 billion new expansion investment agreement with four small and medium-sized manufacturing companies.

Jeollanam-do announced on the 1st that it signed written investment agreements worth 21.4 billion won with four companies in cooperation with four cities and counties, including Gwangyang, Jangheung, Gokseong, and Jindo.

Once the attraction of companies is completed through this investment agreement, 61 new jobs are expected to be created.

According to the agreement, Ecoshell will invest 8.5 billion won in the Gwangyang National Industrial Complex to build a new plant that recycles discarded shells and produces calcium oxide (limestone). Calcium oxide, which is entirely supplied to POSCO, has the effect of improving productivity, reducing fuel costs, and reducing carbon emissions when used in the iron ore blast furnace process.

Dine Beverage will make additional investments in the same area after signing an investment agreement worth 3.7 billion won in August 2020. A new investment of 2.2 billion won is planned to be made in the Jangheung Biofood Industrial Complex to expand the factory to manufacture healthy tea beverages.

Kunwoo Enterprises is investing 7.2 billion won in the Gokseong Gyeom-myeon Agricultural and Industrial Complex to expand its factory to manufacture steel structures and cranes. As demand for domestic bridges continues to increase, this expansion is expected to increase production of steel structures to meet demand.

Haenam Abalone Distribution, a fishing company, is investing 3.5 billion won in Jindo Gunnae Agricultural and Industrial Complex to build a new factory to manufacture mixed feed for abalone. Haenam Abalone Distribution operates an abalone farm in Haenam, and through this investment, it plans to produce high-quality abalone by directly manufacturing reliable abalone feed.

In 2023, the province led to investments worth 5.1732 trillion won with 61 companies through 17 face-to-face and written agreements. Going forward, we plan to actively attract investment focusing on Jeonnam’s specialized industries such as energy, bio, secondary batteries, and aerospace.

Kim Dae-in, head of the Doji Investment Promotion Department, said, “We are grateful to the companies that decided to invest in Jeonnam even during difficult times,” and added, “We will do our best to provide administrative support for the successful settlement of investment agreement companies.”