Sunghyeon Co. Ltd. invests KRW 27.5 billion in Saemangeum

Saemangum Development and Investment Agency (SDIA,
Administrator Kim Kyung-ahn) and Sunghyeon Co. Ltd. signed an
investment MOU* to construct a plant for battery materials and
eco-friendly energy storage container on December 6.
Jeollabukdo Province, Gunsan City, and Korea Rural Community
Corporation co-signed the MOU.


Kim Kyung-ahn, Administrator of SDIA, and Kim Ho-sung,
CEO of Sunghyeon Co. Ltd., attended the investment agreement
ceremony.


Sunghyun, one of SMEs in Gunsan, has grown up for 30 years
as a power generation, environmental plant and marine
equipment entrepreneur. It is going to establish a foundation for
battery materials production as a new business.


The company will construct their plant from 2024 to 2026 and
will hire 70 new workers, investing KRW 27.5 billion
($20.9M).

Various secondary battery entrepreneurs’ investments in
Saemangeum influenced Sunghyeon’s investment. It is going to
strengthen in the field of secondary battery production facility.


SDIA expects that Sungheyon’s investment would be a great
help to regional co-prosperity, manufacturing and supplying
battery-related facilities to secondary battery entrepreneurs.


Kim Kyung-ahn, Administrator of SDIA, said, “This investment
will be an example of win-win cooperation between
large-scale entrepreneurs and SMEs.” He also said, “SDIA will
do its best to build up a cooperation ecosystem for
entrepreneurs in Saemangeum Industrial Complex.”


“We hope our investment will serve as a catalyst for more
local SMEs who prepare to participate in related industry in
Saemangeum.” said Kim Ho-sung, CEO of Sunghyeon Co. Ltd.