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According to Yonhap News,
(BUSAN=Yonhap News) The Busan-Jinhae Free Economic Zone Authority (BJFEZ) announced on July 22 that the BJFEZ will sign an investment memorandum of understanding (MOU) with Switzerland’s Burckardt Compression on July 23.
Burckardt Compression, founded in Zurich, Switzerland in 1844, is a global gas compressor manufacturer that has recorded sales of USD 500 million last year.
Burckardt Compression will invest USD 20 million in the Mieum Foreign Investment Zone (9,986 ㎡) in BJFEZ to build a production plant.
BJFEZ expects the investment of Burckardt Compression will create 400 jobs for its 30 partner companies in Korea.
Busan hopes to increase the competitiveness in shipbuilding and marine plant industry of South Gyeongsang Province by adopting the state-of-the-art technology owned by Burckardt Compression.
joseph@yna.co.kr
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Source: Yonhap News (July. 22, 2014)
** This article was translated from the Korean.