CHUNGCHEONGBUK-DO < invest Korea

North Chungcheong Province announced last Friday that that Governor Lee Si-jong will visit the United States Tuesday to sign a memorandum of understanding (MOU) with Tissuegene Inc., established by the Kolon Group.

Tissuegen plans invest USD 50 million in the second Osong Industrial Complex to build its regenerative medicine manufacturing facilities for knee cartilage.

The province expects the investment to be initiated from the second half of next year.

It is the first time for the Chungbuk Free Economic Zone to promote foreign investment since its designation in last February.

Governor Lee will also sign an MOU with Houzer, a U.S. sink manufacturer, to invest USD 15 million in Jincheon Sansu Industrial Complex during his visit.

Source Text

Source: Yonhap News (June 7, 2013)

** This article was translated from the Korean.