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Jungwon to make a KRW 150 bln investment to move into Chungju City

According to Yonhap News,

North Chungcheong Province and the city of Chungju signed a KRW 150 billion worth of investment MOU with Jungwon New Materials, an affiliate of Chunbochem, on Jul 3. The investor, producing materials used for rechargeable batteries, rolled out its plan to build up new production plants on a 13,860 square meter site near Chungju city by the end of 2024. Rising demand for batteries which last longer and producer better output, particularly in the EVs and ESS markets made the investor push on business scaleup, believed to help them get the better of rivals in the materials industry.

The provincial authorities also pledged to provide administrative support to speed up the construction process, predicting that the investment adds 100 new jobs.

Source Text

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Source: Yonhap News (Jul 3 , 2020)

** This article was translated from Korean.