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Korean and Foreign Companies to Invest KRW 75.5 billion in Gwangju

According to Yonhap News,

(GWANGJU=Yonhap News) Gwangju signed investment agreement worth KRW 75.5 billion and 360 new employments with 15 domestic and overseas companies including Q Solar, GEO Medical and Daihan Climate Control on November 8 at the City Hall.

The signing ceremony was attended by 30 participants from three foreign companies and those from Gwangju, Gyeonggi-do, Chungnam-do, Chungbuk-do and Jeonnam-do.

In the field of energy, Q solar, Honam University Consortium, International Electric Co., Ltd. and Taesin I&C Co., Ltd. will invest KRW 34.8 billion.

In the field of medical device, GEO Medical, Bywon, Kims Med, will invest KRW 13.5 billion while in the electric car battery field, CIS will spend KRW 10 billion to build a plant.

Daihan Climate Control in the electronic component field and K Tech Korea in the steel structure manufacturing field will invest KRW 8 billion.

These companies will build new plants or expand their existing facilities in the Energy Valley Industrial Complex, the Third Pyeongdong Industrial Complex and Jingok Industrial Complex.

Gwangju Metropolitan City is implementing investment promotion strategy of attracting 170 domestic and foreign companies and creating about 3,000 new jobs.

"We will provide active support by using incentive system managed by the City, so we are expecting investments as planned," said Lee Yong-seop, Mayor of Gwangju. "We will exert efforts to create an business-friendly environment to enable investors to make profits."

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Source Text

** This article was translated from Korean.

Source: Yonhap News (November 8, 2018)