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Taiwan's communication provider signed USD 15 million investment agreement in Cheonan

According to Yonhap News,

(HONGSEONG=Yonhap News) Taiwan's mobile phone component provider is to invest USD 15 million (KRW 17.5 billion) in building a production facility in Cheonan, Chungnam.

Chungnam governor, on a business trip to Taiwan, signed MOU with CEO of Tai-Saw Technology (TST), and CEO of Sawnics in Taoyuan, Taiwan on July 5.

TST, the leading SAW device supplier in Taiwan, achieved USD 100 million sales last year, with 1,172 staff employed.

It has factories in Taiwan and China, and entered the Korean market in joint venture with Sawnics.

TST and Sawnics plan to purchase the site of 8,295 square meters in Cheonan's foreign investment zone and build a production facility.

An official from Chungnam province said, "Once the plant goes into operation, we expect to see sales of USD 157 billion and exports of USD 122.5 billion over the next five years."

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Source Text

Source: Yonhap News (July 5, 2019)

** This article was translated from Korean.


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