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Cheongju City Signs to Receive Investment of KRW 275.1 Billion from 2 Companies to Build Industrial Complexes

According to Yonhap News,

(CHEONGJU=Yonhap News) On Feb. 16, the City of Cheongju signed investment contracts worth KRW 275.1 billion with JH Industry Development and Suhhan Wool Textile to build industrial complexes.

According to the City, the real estate developer and supplier JH Industry Development will invest KRW 192.5 billion until 2019 in building the Guksa General Industrial Complex in Guksa-ri, Oksan-myeon, Heungdeok-gu.

Suhhan Wool Textile, a representative textile company of Cheongju, has also promised to invest KRW 82.6 billion until 2019 in the construction of the Oksan 2nd General Industrial Complex in Oksan-myeon.

According to Cheongju Mayor Yi Seung-hun, "currently there is not enough industrial land to meet business demands," adding "the investments will create a solid foundation to attract numerous businesses to the City."

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Source Text

Source: Yonhap News (Feb. 2, 2017)

** This article was translated from the Korean.