SDIA celebrates KRW 10 trillion ($7.6B) investment promotion

Saemangeum Development and Investment Agency (SDIA,
Administrator Kim Kyung-ahn) celebrated KRW 10 trillion
($7.6B) investment promotion at Conrad Hotel Seoul on
December 27, 2023.


More than 160 officials and entrepreneurs attended the event
to celebrate the achievement. Kim Kyung-ahn, Administrator of
SDIA, Kim Kwan-young, Governor of Jeollabuk-do Province, Jeong Un-cheon, a National Assembly member, Kang Im-joon,
Mayor of Gunsan City, entrepreneurs from Saemangeum,
Jeonbuk Province and Seoul took part in the celebration.


The amount of investment promotion is more than 6.7 times
than that of nine years (KRW 1.5 trillion) since the
establishment of SDIA in September, 2013. It is a great
achievement on the 10th anniversary.



As one part of the national government’s pro-business policy,
Saemangeum Investment Promotion District (in June, 2023) and
Secondary Battery Specialized Complex (in July, 2023) were
designated in Saemangeum. And all the staff of SDIA try to
support entrepreneurs and investors, making a substantial
growth engine for the national economy.

During the ceremony, SDIA signed two investment MOUs with
Mirae Kerlong Energy Co., Ltd. that will produce Precursor and
Nickel Sulfate, with Paikkwang Industrial Co. Ltd. that will
produce precursor material and semi-conductor material.

Mirae Kelong New Energy Co., Ltd. is co-founded by MNtech
Co. Ltd. and Chinese Kerlong New Energy Co. Ltd. The
company invests KRW 800 billion (190,000㎡) and will hire 650
new employees.


Paikkwang Industrial Co. Ltd. starts constructing their plant (on
100,000㎡) in 2024. They will produce 100,000 tons of Phosphorus Trichloride (PCI3) and Phosphorus Pentachloride
(PCI5) as well as precursor materials (plastic sodium and high
purity chlorine) and semiconductor materials (boron trichloride),
investing KRW 300 billion and hiring 390 new employees.


PCI3 and PCI5 have been imported from China, but Paikkwang
will replace most of the imports and plans to localize boron
trichloride that has been imported from the United States and
Japan.


Kim Kyung-ahn, Administrator of SDIA, said, “It is a great
achievement to attract KRW 10 trillion investment in such a
short time.” He added, “SDIA will more actively promote
one-stop corporate support, regulatory innovation, and
expansion of investment incentives to make Saemangeum a hub
of secondary battery industry.”


Yoon Seong-hwan, CEO of Mirae Kelong Energy Co. Ltd., said,
“In Saemangeum, a hub of new industry, Mirae Nano-tech
Group will lead the precursor industry and strengthen the
competitiveness of K-battery industry in the precursor field.”


Jang Young-soo, Chairman of Paikkkwang Industrial (PKC
Chemical & Biotech) said, “Paikkwang Industrial begins
secondary battery business in Saemangeum, a secondary battery
industry hub.” He added, “We hope to be a leading company in
the secondary battery industry.”