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Faurencia Agreed to Invest $21 million in Yeongcheon
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According to Yonhap News,

North Gyeongsang Province (Gyeongbuk) and the Daegu-Gyeongbuk Free Economic Zone (DGFEZ) authority signed an investment MOU with France's Faurecia, a global automotive component manufacturer, at DGFEZ.

Faurecia will invest a total of $21 million to build a manufacturing facility on a 46,200 square meter-site by September in Yeongcheon Cutting-Edge Parts & Material Industrial Complex. The facility will start commercial production from next September.

It will supply about 600,000 seat frames to domestic automobile companies.

"We will continue to be aggressive about investment attraction from potential foreign companies," said Director of DGFEZ Choi Byeong-rok.

Source Text

Source: Yonhap News (May 18, 2012)

** This is an English translation of a Korean news article.