Compaks RV Co.
to invest USD23 million
Camping culture to thrive
in Chungnam

Chungnam has succeeded in attracting USD23 million in foreign direct investment from a Chinese camping caravan maker.
On September 2nd, the province signed an MOU with Wang WeiYuan, CEO of Compaks RV and Kim Seok-hwan, head of Hongseong County at the provincial office.
Founded in 2014 in Rongcheong City in Shandong Province, Compaks RV specializes in the manufacture of caravan trailers and semi-trailers, focusing on exports to overseas markets (95%) including North America, Europe, Australia and Korea. Through the MOU about the investment of USD23 million, Compaks RV plans to build a caravan plant that can produce 1000 units a year in the Urban High-tech Industrial Complex of Naepo New Town on a land of 31,394m². The investor intends to use the plant to produce new caravan models and test-market them in Korea.
Currently the interest in caravans and campers is hotter than ever in Korea. Camping populations continue to rise due to rising income levels and the 52-hour workweek. Still the Korean caravan vehicle industry focuses on import sales or small-scale production. There is plenty of room for growth in the market.
The province expects the investment to raise 200 billion won in sales, create 150 permanent jobs and a number of temporary jobs, earn 40 billion won in import substitution effect, and increase local tax revenues in the next five years.