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Companies Move into Bio Valley No.2

Three cosmetics manufacturers will move into the Bio Valley No. 2 in Jecheon, North Chungcheong Province.

North Chungcheong Province and Jecheon signed a memorandum of understanding (MOU) with the three companies yesterday.

Construction of a manufacturing facility to produce face packs, toner and lotion on a 9547 m2 will begin in the second half of this year to be completed in the first half of 2014 with an investment of KRW 3.5 billion.

Chams Corporation, a packing material manufacturer, will invest KRW 1 billion to establish its plant on a 5950 m2 site. Operation is to begin this year.

Another metal processing company purchased a factory site of 7029m2. It plans to invest KRW 6.5 billion to establish a metal production system.

With the three companies that signed the MOU, 27 companies have signed to move in the Bio Valley. Sales of sites also reached over 50 percent.

Currently nine companies are in operation and five are building their factories.

A Jecheon official noted that many companies are showing interest in the city as it held promotion activities to attract companies. He added the city is seeing more inquiries from companies.

The Bio Valley No.2 in Jechon has outstanding conditions with inexpensive site costs, the city’s support programs, highways and railways.

Source Text

Source: Newsis (June 26, 2013)

** This article was translated from the Korean.