BUSAN < invest Korea

According to Yonhap News,

A bio-pharmaceutical company, BINEX Co., Ltd, headquartered in the city of Busan signed an MOU with the city of Busan on Dec 28, unveiling its KRW 40 billion worth of investment plan to build out manufacturing facilities in Busan city. BINEX, first born in 1957, has become one of flagship local bio-pharma brands with 60 years of history in Busan city. Under the agreement, BINEX invests nearly KRW 44.3 billion in new production plants, adding 43 new jobs. The factory reported to triple the size of the existing facilities will be located on a 13,897㎡ site near the head office.

Once the plant is built up, the company’s production and delivery capacity is likely to be up 250% and 300% each. They cut the first turf in January next year and embarks on the construction process in February. When the factory operation is fully underway, up to 160 employees are expected to be newly hired.

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Source: Yonhap News (Dec 28, 2020)