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LTEC Korea signed a KRW12.1 bln worth of investment deal to move in Okcheon Techno Valley

According to Yonhap News,

Okcheon-gun in North Chungcheong Province said on Dec 21 they successfully signed a KRW12.1 billion worth of investment deal with LTEC Korea. The machinery manufacturer unveiled its plan to form and move a new production plant on a 5,393㎡ site near Okcheon Techno Valley by the end of 2025.

Plus, LTEC Korea pledged a local hiring and purchasing once they move in the community. In response to the investor’s commitment, the authority also agreed to give full support to speed up administrative process to run business. The town leader said “We’ll make diverse and extensive investment incentives to help businesses with full potential move in our community, as part of new strategic approaches to the post COVID-19 economy.”

It’s reported that the current occupancy rate of the Okcheon Techno Valley, whose construction is underway, is 77%. Nearly 24 companies have completed the document signing process for residency in the Valley, which is set to break ground in early next month.

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Source: Yonhap News (Dec 21, 2020)

** This article was translated from Korean.