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Daegu Signs Business Agreement with CJ and Lotte

According to Yonhap News,

(DAEGU=Yonhap News) Daegu City will sign a business agreement with CheilJedang and Lotte Chemical on November 13 to develop the biochemical industry.

According to Daegu on November 12, the companies and the Ministry of Trade, Industry & Energy will produce bio plastic materials for the bio plastic one-stop convergence technology development project, a national project.

The companies will build a plant in the 3rd Seongseo Industrial Complex in Daegu to develop bio plastic materials. They also plan to establish a manufacturing facility in Daegu for product commercialization.

A total of KRW 46.7 billion will be invested in the construction of the plant on 5,000 ㎡ of land, which is to be completed in 2019.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (November. 12, 2014)

** This article was translated from the Korean.