Samsung Electronics Invests 1.7 Trillion Won in Hwaseong…Signs Mutual Growth Agreement with City

Hwaseong Special City (Mayor Jung Myung-geun) announced on the 28th that it has signed a mutual growth cooperation agreement with Samsung Electronics at the central conference room on the 2nd floor of Hwaseong City Hall to support the company's continuous investment and growth, and to strengthen competitiveness in future advanced industries and vitalize the local economy.

Attending the agreement ceremony were Hwaseong Special City officials including Mayor Jung Myung-geun, the Deputy Mayor, the Head of Corporate Investment, the Director of Investment Attraction, and key executives of Samsung Electronics including Kim Yong-gwan, President of the DS Division Strategy Planning.

Both organizations agreed to mutually cooperate on ▲expanding Samsung Electronics' investment and supporting stable business operations ▲expanding research and business functions and strengthening competitiveness in future advanced industries ▲revitalizing the local economy and fostering community coexistence ▲inter-departmental collaboration and administrative support to resolve corporate issues.

Hwaseong Special City stated that it will strengthen inter-departmental collaboration systems to respond swiftly to various issues arising from Samsung Electronics' investments and business operations, and will actively review and support necessary matters within the scope of relevant laws and administrative procedures.

Samsung Electronics plans to implement a total investment scale of 1.7 trillion won within Hwaseong Special City, and specific investment details and implementation timing will be continuously discussed with Hwaseong Special City in consideration of business conditions and implementation status.

A Samsung Electronics official stated, "Hwaseong is an important business hub that has grown with Samsung Electronics," and added, "Going forward, we will work closely with Hwaseong Special City to establish a foundation for sustained growth and develop together with the local community."

Mayor Jung Myung-geun of Hwaseong Special City said, "Samsung Electronics is a key partner that has shaped industrial development in Hwaseong and created the future advanced industry ecosystem together with us," and added, "This agreement will serve as a new starting point that goes beyond a simple corporate support agreement, connecting corporate growth and the city's future as one." He continued, "We will spare no administrative support and cooperation to ensure that corporate growth translates into quality jobs and local economic growth."