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Gwangju-si and Young San Group signed on investment agreement

According to Yonhap News,

(GWANGJU=Yonhap News) Mayor Lee Yong-sup of Gwangju city signed an agreement on investment with Chairman Park Jong-bum of Young San Group in its head office in Vienna, Austria on June 14, and pledged an administrative support.

According to the agreement, Young San Group will invest KRW 2.5 billion from the next year to 2023 to build a plant manufacturing high-tech auto parts in Gwangju.

Gwangju city is to provide administrative support, tax reduction, subsidies, and investment incentives in accordance with relevant regulations.

Young San Group, founded in 1999 by chairman Park, is a trading company selling products imported from Korea to European countries.

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Source Text

** This article was translated from Korean.

Source: Yonhap News (June 15, 2019)