In order to prevent Chinese aluminum producers from invading the Korean market, the Korean aluminum industry began jointly resisting a Chinese aluminum giant from entering the market in South Jeolla Province’s Gwangyang Bay Area since 2018.
In November 2018, Henan Mingtai Aluminum, a Chinese aluminum sheet manufacturer, signed an investment contract with the Gwangyang Bay Area Free Economic Zone Authority. It plans to invest $40 billion won ($32.8 million USD) to produce aluminum products. The groundbreaking ceremony was held in December 2018 to kick off the construction of the plant, but the project was opposed by the Korean aluminum industry.
