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Five companies of defense and venture sectors invest KRW 27 billion in Daejeon

According to Yonhap News,

(DAEJEON=Yonhap News) Five companies in the defense and venture sectors will invest KRW 27 billion in Daejeon.

Daejeon city signed MOU with Satrec Initiative, specialized in aerospace; Nexcoms in defense, aerospace, and composite materials; Gtscien, manufacturer of research apparatus; UCL, a manufacturer of optical access equipment; and KM claim adjustment service at city government office on February 27.

Satrec Initiative, Nexcoms and UCL plan to move into Ansan Defense Industrial Complex, scheduled to be completed by 2022, or expand factory.

Gtscien is going to move its headquarters and Geumsan factory into Sindong district of International Science Business Belt.

KM Claim Adjustment Service promised to make new investment in and support for Contact Center in Dunsang-dong, Seo-gu.

The city expects that the combined investment is expected to reach KRW 27 billion, while creating 297 jobs.

Daejeon city mayor said, "As companies decided to make bold investment amidst difficult economic situations, Daejeon city will not spare any efforts in providing administrative and financial support".

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Source Text

** This article was translated from Korean.

Source: Yonhap News (February 27, 2019)