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Jecheon Signs Investment Agreements

Jecheon city signed investment agreements with three companies last week.

The companies are Iljin, an automobile wheel bearing manufacturer, KDT Tech, which produce metal products, and Mast, a textiles company relocating from the Kaesung Industrial Park.

The city expects the three companies to invest KRW 25 billion and create 180 new jobs.

With the investment agreements, about 30 companies will be moving into the second industrial complex in Jecheon. About 57 percent of its sites are sold.

Iljin operates two plants in Jecheon industrial complex and hires 1,000 local residents. It plans make additional purchase of 21,393 m2 site to build its plant.

Established in June 2011, KDT Tech will relocate its headquarters and plants to Jechon to expand its business.

Mast, which produces socks and stockings, previously had its headquarters in Buchoen and plants in the Kaesung Industrial Park, however it will move its plants to Jecheon, due to unstable external factors.

Source Text

Source: Yonhap News (Aug. 12, 2013)

** This article was translated from the Korean.