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North Chungcheong Province Signs Investment Agreement with 3 Companies

According to Yonhap News,

(CHEONGJU=Yonhap News) North Chungcheong Province announced December 5 that it has reached an investment agreement worth KRW 330 billion with three companies including Daewoong Pharmaceutical.

Daewoong Pharmaceutical will invest additional KRW 210 billion in the Osong High Tech Medical Complex to build a plant suitable for the current good manufacturing practice of the U.S. FDA. The plant will produce products for overseas export.

Medical Group Bestian, which specializes in burn care, will invest KRW 90 billion in Osong to establish a clinical hospital by 2020.

Joonghun Medical, a medical drugs and devices marketing company, will invest KRW 30 billion in Osong to build a pharmaceutical company on 9,900 ㎡ of land in Oksan Industrial Complex and a research center in Osong by 2018.

The investment agreement will create 790 new jobs and bring economic effect of KRW 710 billion, according to North Chungcheong Province.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (December. 05, 2014)

** This article was translated from the Korean.