GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) Gwangju's contact lens companies are exhibiting exponential growth.

Five local contact lens suppliers, New Bio, Geo Medical, Unicontact, i-CODI, and Magic Con collectively generated revenue of KRW 30 billion last year.This is the fourth highest amount in the nation, including metropolitan areas. Total number of jobs newly created by the five firms last year amounted to 511.

Export from the five vendors is projected to be USD 22 million this year, up 25% from last years's USD 17.6 million. Total accumulated export recorded by the five firms already reached USD 15.2 million last month.

Gwangju city selected contact lens and other biomedical material businesses as the local strategic industry in 2014 and has since provided support for growth.

As Gwangju's project to nurture local contact lens industry was selected by the Ministry of Trade, Industry and Energy this year, a total of KRW 2.6 billion including national funds will be injected through 2019.

sangwon700@yna.co.kr

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