BUSAN < invest Korea

(BUSAN=Yonhap News) Busan Metropolitan City announced February 21 that Japan's Nitto Seiko signed to make a JPY 300 million investment in Busan's BF, based in Gijang-gun, at the former company's headquarters in Kyoto, Japan.

NF, a maker of eco-friendly medical and health care products that also carries out related research and development projects, is widely known for its oxygen generation technology and sterilization technology.

By attracting the equity investment from Nitto Seiko, NF plans to jointly develop new products that combine NF's oxygen generation technology and Nitto Seiko's micro bubble technology.

Founded in 1938, Nitto Seiko is a global company listed on the Tokyo Stock Exchange that has technology to make devices that measure and examine high-precision screws.

Recently, the company developed an industrial washing device that uses micro bubbles, and has been selling it to renowned companies in Japan.

In 2016, Nitto Seiko had signed a basic agreement with NF to sell its industrial washing devices in the Korean market. The Japanese company decided to make the recent equity investment in NF in recognition of its technological strengths.



joseph @yna.co.kr

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Source: Yonhap News (Feb. 21, 2018)