Gwacheon City Discusses Cooperation with LG Energy Solution on Gwacheon R&D Campus Expansion Project

[Suwon Ilbo=Reporter Yu Je-seong] On the 25th, Mayor Shin Gye-yong of Gwacheon City visited the headquarters of LG Energy Solution located in Yeouido, Seoul, to discuss cooperative measures for mutual prosperity regarding the "Gwacheon R&D; Campus Expansion Project" scheduled to begin in earnest next year.

LG Energy Solution's Gwacheon R&D; Campus, located in Juam-dong, Gwacheon City, plans to transition from R&D; focused on lithium-ion battery packs and battery management systems (BMS) to becoming a core hub for materials R&D.; To secure research facilities for this purpose, a seven-story research building expansion is being pursued by 2028.

Prior to this, the city conducted preliminary negotiations with LG Energy Solution and signed a cooperation agreement on the final negotiation terms on October 1 this year. According to the agreement, the city will pursue changes to the urban management plan for the expansion of research facilities, and LG Energy Solution will make public contribution payments in accordance with zoning changes and donate land in Juam-dong.

As a result of these preliminary negotiations, the city secured public contribution funds of approximately 50 billion won and road land valued at approximately 20 billion won, securing a total of over 70 billion won in funding sources. This corresponds to approximately 10 percent of the city's annual budget and is expected to be of great help to the city's finances.

If the urban management plan change procedures are completed within the year, the city plans to receive 10 billion won first in the first half of next year, and then sequentially secure the remaining funds and donated land before the completion of the research building by 2028. The city plans to use the public contribution funds for expanding public facilities needed in residents' daily lives.

LG Energy Solution President Kim Dong-myung said, "I appreciate the support citizens have given to the Gwacheon R&D; Campus, and we will actively review various cooperation measures for coexisting with the local community."

Mayor Shin Gye-yong said, "The city will actively support the Gwacheon R&D; Campus to become a regional innovation growth engine," and added, "The public contribution payments made by LG Energy Solution are a representative example of returning planned gains to citizens, and we will efficiently execute them for facility expansion that citizens can directly experience."