Chungcheongnam-do is establishing its first small and medium-sized cooperation complex-type foreign investment zone (Mini Foreign Investment Zone) in Dangjin.

Chungcheongnam-do disclosed that its designation planning of the Songsan 2nd Foreign Investment Zone (small and medium-sized cooperation complex type), which was submitted to the Ministry of Trade, Industry and Energy (MOTIE), has passed review by the Foreign Investment Council recently.

The confirmation of designation of the Mini Foreign Investment Zone is considered a particularly significant feat, since more than 80% of available lots in the Cheonan 5th General Industrial Complex are to be occupied this year; consequently, additional acquisition of lease lot will be needed.

Chungcheongnam-do will have its 4th foreign investment zone in 3 years since the foreign investment zone of the Cheonan 5th General Industrial Complex was designated in 2012.

The small and medium-sized cooperation complex-type foreign investment zone was adopted by MOTIE in 2013 in order to rectify the phenomenon of concentrated foreign investments in the metropolitan area and to respond to increasing foreign investment demand in local governments.

The area required for the foreign investment zone is about 1/4 of the minimum requirements (330,000㎡); thus, the zone is called “Mini Foreign Investment Zone.” The central and local governments jointly purchase a lot and lease it to foreign-invested enterprises at low cost. Three zones have been designated across the nation: Woljeon in Gwangju; Munmak in Wonju; and Jincheon Sansu Industrial Complex in Chungcheongbuk-do.

The Dangjin Mini Foreign Investment Zone will be established on an area of 134,000㎡ within the Songsan 2nd General Industrial Complex (Lot 2-2) in Songsan-myeon and Songak-eup, Chungcheongnam-do.

The total fund for the acquisition of lease lot is 46.6 billion won, which consists of 28 billion in national funds and 9.3 billion won of funds from Chungcheongnam-do and Dangjin, respectively.
The CNT Group of China is set to move in to the Foreign Investment Zone. The group signed an MOU in August and made an investment report (20 million dollars).

Chungcheongnam-do plans to induce 3-5 more foreign enterprises for the next 5 years.

Through the planning, Chungcheongnam-do expects to create jobs for 1,000 people or more and generate 400 million dollars of export, 400 million dollars of import substitution effect, and foreign direct investment of 100 million dollars or more.