While some place possible business networks at the top of the priority list when making investment in overseas parts and materials exclusive zones, others might value the geographic location of the zone in order to get easy access to product distribution. In the second case, Cheonan Parts and Materials Industrial complex in Chungnam Province is probably the best location Korea can offer.Chungnam province has the geographic advantage of being located in the center of Korea, where everything in Korea is just two hours away. Cheonan Parts and Materials Industrial Complex has fast access to highways, railways, a sea port, and an airport. Namcheonan IC is only 4km away, while Gyeongbu Expressway Cheonan IC is 9km away from the zone. High speed train is accessible nearby as well. KTX Cheonan Asan Station is only five minutes driving distance away. Within 8km, Gyeongbu Railway Cheonan Station presents a second option for train travel. The Pyeongtake Dangjin Port is nearby, and Incheon International Airport is about 150km from the complex. The nearness of major businesses is impressive as well. Samsung Electronics, S-LCD, and Hyundai Motor Company are located within 30km from the Cheonan Parts and Materials Industrial Complex.
“Foreign investors may prefer to build their factories in some industrial complexes near Seoul for the efficiency of their business. Samsung Electronics, Samsung SDI, Hyundai Motors, and the Display Assistance Center are the best examples. They all built manufacturing factories in Cheonan in appreciation of our city's geographic advantage,” said Choi Jin-seok of Investment Inducement Team at ChungNam Provincial Government.
Future and Present
Materials and components companies relating to electric, electronics, automobile, chemical, machinery, and equipment manufacturing are expected to gather at Cheonan Parts and Materials Industrial Complex. Chungnam has been the driving force behind Korea's economy due to the success of four core industries: displays, automobiles, steel, and petrochemicals. One hundred twenty one industrial complexes exist all across Chungnam with a total of 1,200 Korean and foreign companies engaged in economic activities.
Chungnam offers not only a convenient residential environment endowed with diverse financial, educational, leisure, shopping, and cultural facilities, but also an optimal business environment with flawless SOC facilities and versatile human resources. “We are currently promoting Chungnam Industrial Complex and Tourism Development Project that is in the process of building many other complexes including Gongju Cultural Tourist Destination, the Yellow Sea Free New Provincial Office City, the Yellow Sea Free Economic Zone, and of course the Cheonan Parts and Materials Industrial Complex,” added Choi.
Where does the Trust come From
Government offices' proactive support is proven to be satisfactory as well. One investor, President Oliver Guilluy of Lafarge, said: “Access to the Greater Seoul Area which accounts for 65% of the Korean market within 2 hours, and its proximity to China, combined with the province's pool of high-quality human resources are some of the strengths of Chungnam. And, the administrative support that sees you through a project from the beginning to the end is the best business partner you can hope for.” With the successful story of Chungnam itself, the government will use its previous experience to lead another success of the materials and components industrial complex in Cheonan in 2010.