Investment of more than KRW 100 billion has been attracted to Wonju City, Gangwon Province. Gangwon Province and Wonju City on the 13th signed an investment agreement worth KRW 102.3 billion with Shinheung MST Co., Ltd. for the establishment of a new Wonju plant in the small conference room of the main building of the provincial government office. This agreement marks the first mega-scale investment attraction in Gangwon Province since the launch of the 9th popularly elected administration, and is the largest-ever investment by a single company in Wonju City.

Shinheung MST, a subsidiary specializing in implant manufacturing of Shinheung Co., Ltd., a dental medical device specialist, will build an advanced implant production plant in the Munmak-eup “Wonju Automotive Parts General Industrial Complex.” Construction of the plant is scheduled to begin in the first half of next year (January–June), with final investment to be completed by 2030. In line with the stabilization of production facilities, a total of 80 local talents will be newly hired in stages.

The new Munmak plant will serve as the global production base for “Yuhan Evertis,” a joint venture brand between Shinheung and Yuhan Corporation, which signed a joint business agreement last year. As a result, the production capacity of the Wonju plant is expected to expand more than twentyfold, from the current 50,000 sets per month to 1 million sets per month.

The products will be supplied not only to the domestic market but also actively to overseas markets such as China and Vietnam through the distribution network of parent company Shinheung and the global network of Yuhan Corporation.

This investment attraction is particularly meaningful as Shinheung MST, which first settled in Gangwon Province in 2009, has grown together with the regional economy and is now reinvesting the fruits of that growth into the local community, forming a “virtuous cycle regional growth model.”

Koo Ja-yeol, Mayor of Wonju, said, “This agreement is a significant achievement not only because of the large scale of the investment, but also because it heralds the start of fostering future industries under the 9th popularly elected administration,” adding, “The city will continue to create a favorable business environment and high-quality jobs to drive regional economic growth.”

Woo Sang-ho, Governor of Gangwon Province, stated, “Based on the conviction that corporate success is directly linked to Gangwon’s leap forward and the happiness of its residents, the provincial government will join hands with Wonju City and spare no full support to help Shinheung MST grow into a global company that can dominate the world stage.”

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