NEWS

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Daejeon City Attracts Investment from Three Defense Companies and One Foreign-Invested Company, Expected to Create 335 Jobs

On the 16th, a signing ceremony for investment agreements was held between Daejeon City and four companies, including three defense companies and one foreign-invested company. The attendees displayed the signed agreements during the event. From left to right: Suh, Sang-Hong, CEO of Kwangwoo; Lee Joo-eun, CEO of ALES; Rob Lammers, CTO of ALES; Kim Myung-soo, Deputy Mayor for Science at Daejeon City; Jeong Jin-ho, CEO of Doositec; and Chae Eun-kyung, CEO of Euclidsoft. [Photo provided by Daejeon City]

Daejeon City signed investment agreements with four companies at City Hall on the 16th, including three companies in the defense sector and one foreign-invested company. The three defense companies plan to invest 32.9 billion KRW in the Ansan Advanced Defense Industrial Complex to build their headquarters, factories, and research centers. The companies involved are Kwangwoo, a manufacturer of key components for factory automation; Doositec, which develops satellite navigation systems; and Euclidsoft, a developer of AI and big data analysis software. The foreign-invested company, ALES, will invest 12.3 billion KRW in the Foreign Investment Zone within the Dungok International Science Business Belt. Daejeon City expects that these investments will create 335 new jobs. Deputy Mayor for Science Kim Myung-soo stated, “We will provide administrative and financial support to ensure the successful execution of the investments by the companies that have decided to settle in the Ansan Advanced Defense Industrial Complex and the Foreign Investment Zone within the International Science Business Belt.”