Gangwon State and Wonju-si Attract KRW 19.6 Billion in Investment; DanjoungBio and Ihwa PNC to Build New Plants

【Financial News Wonju = Kim Ki-seop】Gangwon State and Wonju-si have attracted KRW 19.6 billion in investment from two companies that produce cosmetic ingredients and containers.
According to Gangwon State and Wonju-si on the 11th, an investment agreement signing ceremony for DanjoungBio and Ihwa PNC was held that day at the investment consultation room of Wonju-si City Hall. Wonju-si Mayor Goo Ja-yeol, Gangwon State Deputy Governor for Economic Affairs Won-chul Shin, DanjoungBio CEO Jung Eui-su, and Ihwa PNC CEO Lee Jong-nam attended the ceremony.
The two companies have grown with their headquarters and production facilities in Wonju. Under the agreement, they will invest a combined KRW 19.6 billion to expand production and research facilities in the Munmak Bangye General Industrial Complex and create 25 new jobs. The investment is scheduled to be completed by 2027. The deal is significant because it demonstrates the region’s business investment environment and growth foundation, with companies that grew in Wonju reinvesting in the area.
DanjoungBio, based in Hojeo-myeon, is a company specializing in natural-material-based ingredients for cosmetics, food, and pharmaceuticals. Established in Wonju in 2009, it supplies ingredients to more than 300 companies in Korea and abroad. The company has its own research and development system covering the entire process from ingredient standardization and extraction to efficacy evaluation. It will invest KRW 10 billion in an 8,204-square-meter site in the Munmak Bangye General Industrial Complex to build research and production facilities for developing dementia diagnostic kits for companion animals and functional feed additives. The investment will create 10 new jobs.
Ihwa PNC, based in Munmak-eup, has focused on cosmetic packaging for more than 50 years since its establishment in 1972. It has an integrated production system covering mold development, plastic injection molding, secondary processing, printing, and assembly. To expand its injection blow-molding equipment, increase production capacity, and respond to growing market demand, the company will invest KRW 9.6 billion in a 7,524-square-meter site in the same industrial complex and create 15 new jobs.
With this agreement, the Munmak Bangye General Industrial Complex reached a 100% occupancy rate 13 years after its completion in 2013. The city views this as the result of actively responding to companies’ investment needs and consistently pursuing customized investment-attraction activities.
Gangwon State Deputy Governor for Economic Affairs Won-chul Shin said, "The investments by the two companies, which are expanding the production base from natural-material ingredients to cosmetic containers, will strengthen the competitiveness of the bio industry in the province. We will support the creation of a virtuous cycle in which a stronger foundation for the cosmetics industry and the attraction of companies lead to job creation."
Wonju-si Mayor Goo Ja-yeol said, "It is especially meaningful that strong small and medium-sized enterprises that grew in Wonju are expanding their businesses through projects such as dementia diagnostic kits for companion animals and new packaging equipment, while reinvesting in the region. We will continue this virtuous cycle, in which companies nurtured by Wonju help develop Wonju again, by listening to businesses on the ground and carefully providing the support they need."

[email protected] Kim Ki-seop Reporter