Ministry of Trade, Industry and Energy

The Ministry of Trade, Industry and Energy (MOTIE) and North Chungcheong Province of the Republic of Korea held the Materials, Parts, and Equipment (MPE)-Specialized Complex Financial Caravan (“Caravan”) today in the MPE-specialized complex in North Chungcheong Province with the participation of roughly 150 representatives from bio and secondary battery MPE industries.

The Caravan is a site visit program to facilitate discussions on measures to resolve financial issues for firms in the MPE-specialized complex. Starting with North Chungcheong Province, the ministry plans to launch a site tour with relevant institutions across Gwangju, South Gyeongsang Province, and other regions.

At today’s event, a financial assistance agreement was sealed among financial policy institutions, North Chungcheong Province, and MPE-specialized complex’s anchor businesses. Financial institutions pledged robust support for MPE companies through specialization assistance programs and other forms of preferential assistance, to which MPE firms like LG Chem, GC Biopharma, and Celltrion vowed to give full measure to Korea’s MPE localization and establishment of a production base for the global supply chain. In addition, a public-private joint team introduced financial support programs to address the four major financial issues, namely investment, loans, guarantees, and subsidies.

Meanwhile, a session for investor relations (IR) and one-on-one investment counseling was held by relevant institutions. Companies interested in investment will be provided with assistance through follow-up measures regarding due diligence and investment negotiations to help reach actual investment deals.