Chungcheongbuk-do and Chungju City have secured a 4천300억원 won investment agreement with Chinese battery materials manufacturer Ningbo Ronbay New Energy Technology. The deal, finalized on October 9 in Shenzhen, marks an expansion for the region’s secondary battery sector as local officials push to solidify global supply chain ties.
Under the terms of the agreement, Ningbo Ronbay will construct a new production plant dedicated to NCM ternary cathode materials within the Chungju Foreign Investment Zone. The facility is slated for completion by 2029, occupying a 2만6천㎡-square-meter site with a projected annual production capacity of 6만4천톤 tons. The project also entails the creation of 100 new local jobs.
Provincial leadership emphasized the strategic weight of the partnership.
Shin Yong-han, Governor of Chungcheongbuk-do, stated 닝보 롱바이의 충북 투자는 지역 이차전지 산업의 경쟁력을 높이고 글로벌 배터리 소재 공급망에서 충북의 역할을 더욱 강화하는 의미 있는 투자
and added 기업이 안정적으로 투자하고 지속해서 성장할 수 있도록 행정적 지원을 아끼지 않겠다
.
Expanding Industrial Clusters in Chungju
The new manufacturing plant is designed to leverage Chungbuk’s existing industrial cluster for secondary batteries, allowing the firm to scale its output and forge tighter operational links with neighboring businesses in the supply chain. Regional authorities view the influx of capital as validation of their targeted strategy to attract foreign investment to designated zones.
The agreement was officially announced following proceedings at the 2026 South Korea-China Economic, Trade and Investment Cooperation Forum, hosted jointly by the World Federation of Overseas Korean Traders Association (World-OKTA) and the Guangdong Sub-Council of the China Council for the Promotion of International Trade. Held at the Shenzhen World Exhibition & Convention Center, the gathering drew approximately 150 participants, including World-OKTA members, international buyers, and global investors.
Global Sales Pitch and Future Trade Networks
During the forum, Shin and the provincial delegation utilized the platform to pitch Chungbuk’s core strategic industries—spanning semiconductors, secondary batteries, and biotechnology—while detailing specialized incentives for foreign investors. Provincial officials intend to leverage the newly established networks with Chinese corporations and international investors to pursue follow-up investment discussions.
As part of the broader itinerary, the delegation met with Zhang Jie-xue, Consul General of the Republic of Korea in Guangzhou, to request consular information support aimed at assisting local businesses with expansion into the Huanan region of southern China.
The delegation’s itinerary concludes on October 10 as officials wrap up their engagements and prepare to return to Korea, following a schedule that began with their departure for China on October 8.
