South Gyeongsang Province Governor Park Wan-su, right, poses with Wurth Group Senior Vice President Dennis Birresborn at Grandium Hotel Prague in the Czech Republic, Aug. 30. Courtesy of South Gyeongsang Provincial Government

The South Gyeongsang Provincial Government has secured a series of investment deals with domestic and overseas companies.

According to the local government, Monday, it signed a memorandum of understanding with Germany-based car parts maker Wurth Group and local seatbelt supplier Samsong in Prague, Czech Republic, Aug. 30.

South Gyeongsang Province is expected to work together with the German company for future mobility service in the region while Samsong promised to invest about 20 billion won ($15 million) to build additional seatbelt manufacturing plants there as part of the deal.

"I am so grateful for the deal," South Gyeongsang Province Governor Park Wan-su said during the signing ceremony at Grandium Hotel Prague in the Czech Republic, Aug. 30.

"The South Gyeongsang Provincial Government will do its best to support Wurth Group and Samsong's operations in future mobility and energy service."

Consisting of over 400 companies in more than 80 countries, Wurth Group has over 87,000 employees on its payroll globally. According to its financial statement, Wurth Group generated a total of 20.4 billion euros in sales last year.

In 2020, it also established an operation branch in Korea for future mobility and energy service.

Founded in 1978, Samsong is one of the leading seatbelt makers and has overseas production bases in the Czech Republic, China, India, Mexico and Vietnam.

Under the deal with South Gyeongsang Province, the company is set to invest 20 billion won in its Changwon production plants and hire 10 more workers.

The local government also secured another investment deal with local airplane engine maintenance company Young Aviation and Korean defense firm Metis three days after the signing ceremony.

Under the deal, Young Aviation will invest 20 billion won in its reshoring plan to build a production plant in Sacheon, South Gyeongsang Province. Founded in 2013, Young Aviation is a maintenance, repair and operation service provider for civil aircraft engines.

Metis is also expected to invest 8 billion won in building its production plants for aviation communication parts.

Both companies are parts suppliers for the country's largest defense industry firm, Korea Aerospace Industries.

"Korea Aerospace Industries is expanding its business circle into civil aircraft production. It is imperative that more parts suppliers play their role to help it," Park said. "I will do my best to foster other partnerships with companies for South Gyeongsang Province."

South Gyeongsang Province Governor Park Wan-su, center, poses with Young Aviation CEO Cheong Young-geun, left, and Metis Chairman Park Jong-gu at the Mercure Warszawa Grand hotel in Poland, Sept. 2. Courtesy of South Gyeongsang Provincial Government