The Hongsan Industrial Complex, a key investment area in Buyeo, offers a strategic location in the heart of Korea, facilitating easy logistics and distribution due to its proximity to major transportation networks. The complex is equipped with modern industrial infrastructure and a well-developed transportation network, creating an optimal environment for business operations. Buyeo is renowned for its 'Guttrae' brand, a hallmark of high-quality agriculture, and benefits from strong regional connections with nearby cities such as Daejeon, Iksan, and Gunsan. Additionally, the city's industrial capabilities are complemented by opportunities for collaboration with local universities. Under the leadership of Governor Park Jeong-hyun, Buyeo County is making significant strides in economic development, with a particular focus on enhancing its agricultural sector through international partnerships. The county is actively working to attract 100 high-quality domestic and foreign companies as part of its broader economic strategy. A dedicated investment attraction organization has been established to support this ambitious goal.
The Hongsan Industrial Complex, located in Jeongdong-ri and Mujeong-ri, Hongsan-myeon, Buyeo-gun, is currently under development and is expected to be completed by 2025. Spanning approximately 466,871㎡, the complex is designed to accommodate diverse industries, with a notable emphasis on secondary battery production clusters, alongside food and chemical industries.
In a significant development, Buyeo County has secured an investment concession from China's Zhejiang HangKe Technology Incorporated Co. The agreement, signed in 2023, will see HangKe Technology establish a lithium-ion battery charging and discharging facility within the Hongsan Industrial Complex. This venture, involving a $38 million investment, is projected to create over 100 direct and indirect jobs and generate production worth approximately 1.539 trillion won.
Lee Hee-chul, Buyeo County’s investment attraction officer, emphasized the county’s commitment to supporting new investments. "We offer various subsidies to help reduce initial costs and streamline administrative processes," Lee stated. Buyeo County’s customized support program is designed to meet the specific needs of investment companies, ensuring a smooth and successful transition into the local business environment.
Buyeo is positioning itself as a leading destination for investment, blending its historical charm with robust economic opportunities. The Hongsan Industrial Complex represents a key component of this transformation, offering a prime location for businesses looking to capitalize on South Korea’s growing economic landscape.
Sponsored by Buyeo
