BUSAN < invest Korea

According to Yonhap News,

[BUSAN=Yonhap News] The construction of Cluster Complex for Wind Power Parts was completed on June 11. The cluster is located in Mieum Industrial Complex in Gangseo District in Busan.

The cluster’s land size is 330,000 square meters.

The construction began in March 2011 and 16 enterprises moved in the complex. And now another four-story industry union building is on the site.

Around 40 companies affiliated with the union are expected to move in the first-ever wind power specialized cluster in Korea by the end of this year.

The cluster is expected to help companies manufacturing shipbuilding materials and foreign-invested companies work together, eventually helping them penetrate into the international market.

Especially, manufacturing and logistics costs can be greatly reduced since many enterprises work together to make wind power parts that are mostly big and large.

The volume of the wind power parts industry in the southeast of Korea including Busan Metropolitan city is over 40 percent by outputs.

“For the past few years, domestic wind power parts makers have had difficulty in running their business because of Chinese manufacturers’ cheap products. But now that the cluster is completed, the union will make great effort to help local business leap forward again.”said a senior official of Busan Wind Power Parts Union.

joseph@yna.co.kr

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Source Text

Source: Yonhap News (June 11, 2014)

** This article was translated from the Korean.