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Increasing Number of Companies Moving into Daegu

According to Yonhap News,

(DAEGU=Yonhap News) A number of companies are relocating to industrial complexes and business sites in Daegu.

Geoyang Metal, an automotive components supplier based in South Gyeongsang, will move its headquarters and manufacturing facility to the Daegu National Industrail Complex, according to Daegu Metropolitan City.

An insulation materials maker AIO, which received investment from the U.K.'s Insultech Group, will move into the foreign investment zone at the Dalseong Industrial Complex II.

Two companies will enter into investment agreements with Daegu City on November 4, 2016.

Eariler, Korea's e-commerce giant Coupang based in Seoul established an eco-friendly logistics center in Deagu.

Geoyang Metal will invest KRW 40 billion to build its business facility on the land of 32,000 square meters in the Daegu National Industrail Complex. Construction work will begin at the end of this year and be completed by June next year. Relocation of the company is expected to create around 200 new jobs.

AIO will inject KRW 17 billion by 2020 to construct a new plant on the land of 29,000 square meters at the Dalseong Industrial Complex II. The manufacturer of insulating materials will hire 111 new employees to expand its market share in the domestic marekt and advance into foreign markets.

Daegu City has attracted a total of 128 companies and raised investment of KRW 1.6 trillion since 2014. The city expects such investment will create 8,200 jobs.

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Source Text

Source: Yonhap News (Nov. 3, 2016)
** This article was translated from the Korean.