The city of Dangjin in South Chungcheong Province has signed investment agreements worth KRW 105.9 billion with four companies, including Terracle, to build and expand manufacturing facilities.
According to Dangjin City on the 11th, the investment agreement was signed at the provincial government hall in the presence of Governor Kim Tae-heum, Mayor Oh Seong-hwan, and representatives from the participating companies. The companies involved include Vitzrocell Co., Ltd., Innogreen Metal Co., Ltd., Shinpo Metal Co., Ltd., and Terracle Co., Ltd., all of which plan to construct or expand production plants within local industrial complexes.
Terracle, a promising company developing environmentally friendly depolymerization technology, will establish a new production plant on a 7,000㎡ site in the Hapdeok General Industrial Complex. The facility will produce terephthalic acid (TPA) and ethylene glycol (EG)—key raw materials for PET—using its chemical recycling technology.
The companies are expected to begin construction as early as the second half of this year, with the total investment reaching KRW 105.9 billion.
According to the Chungnam Institute, the investment is expected to generate KRW 150.7 billion in short-term production inducement effects, KRW 53.5 billion in short-term value-added effects, and approximately 533 short-term jobs.
Once the factories are completed and operational, they are projected to create around 130 permanent jobs, while generating KRW 208.3 billion in annual production effects and KRW 34.3 billion in added value each year.
The agreement also includes commitments from the companies to prioritize the use of local resources and hire local talent, which is expected to contribute positively to the regional economy.
Mayor Oh Seong-hwan stated, “The collective efforts to create a business-friendly environment in Dangjin are beginning to bear fruit. We will continue proactive investment attraction activities to bring high-quality companies to the region and further stimulate the local economy.”
According to Dangjin City on the 11th, the investment agreement was signed at the provincial government hall in the presence of Governor Kim Tae-heum, Mayor Oh Seong-hwan, and representatives from the participating companies. The companies involved include Vitzrocell Co., Ltd., Innogreen Metal Co., Ltd., Shinpo Metal Co., Ltd., and Terracle Co., Ltd., all of which plan to construct or expand production plants within local industrial complexes.
Terracle, a promising company developing environmentally friendly depolymerization technology, will establish a new production plant on a 7,000㎡ site in the Hapdeok General Industrial Complex. The facility will produce terephthalic acid (TPA) and ethylene glycol (EG)—key raw materials for PET—using its chemical recycling technology.
The companies are expected to begin construction as early as the second half of this year, with the total investment reaching KRW 105.9 billion.
According to the Chungnam Institute, the investment is expected to generate KRW 150.7 billion in short-term production inducement effects, KRW 53.5 billion in short-term value-added effects, and approximately 533 short-term jobs.
Once the factories are completed and operational, they are projected to create around 130 permanent jobs, while generating KRW 208.3 billion in annual production effects and KRW 34.3 billion in added value each year.
The agreement also includes commitments from the companies to prioritize the use of local resources and hire local talent, which is expected to contribute positively to the regional economy.
Mayor Oh Seong-hwan stated, “The collective efforts to create a business-friendly environment in Dangjin are beginning to bear fruit. We will continue proactive investment attraction activities to bring high-quality companies to the region and further stimulate the local economy.”