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North Chungcheong Province Speeds up Investment

According to Yonhap News,

(CHEONGJU=Yonhap News) North Chungcheong Province is speeding up to meet its goal of attracting investment of KRW 30 trillion.

The Province signed an investment agreement worth KRW 51.3 billion with three companies that will invest in Eumseong, Okcheon and Goesan on August 21.

Tong Hark Food, which created ice cream beads for the first time in Korea, will invest in Eumseong County. The Company exports its products to Japan, China and Vietnam and the establishment of a production facility in Eumseong is the result of the popular large ice cream beads that was recently launched.

Kafco, which produces amino acid fertilizer and special fertilizer, plans to build another production facility in Okcheon. Hanbaek Food Co., Ltd. will move its head office to Goesan.

The Province signed an investment agreement worth KRW 243.7 billion on July 24 with ten domestic and foreign companies that will move to Cheongju, Jecheon, Jincheon and Okcheon.

The goal of the Province is to receive KRW 30 trillion of investment, create 400,000 jobs and achieve an employment rate of 72 percent and the annual export sales of USD 20 billion.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (August. 21, 2014)

** This article was translated from the Korean.