GWANGJU < invest Korea

According to Yonhap News,

Gwangju-si sigend an MOU on investment worth USD 5.83 million with three foreign-invested companies at the Kim Dae-jung Convention Center on November 29.

VSS Global in the UK, Lyric Robot in China (Energy), and MotionsCloud in Germany made decision for investment.

They expected to establish a joint venture for foreign investment in the region and create more than 100 new jobs.

VSS Global is expected to play an important role in Gwangju-si developing toward a leading future mobility city through construction of manufacturing plant and R&D in impact reduction protective sheets.

Lyric Robot, a battery equipment company, will invest production equipment in a secondary battery cell pilot manufacturing plant, which is under construction by a local company called Magnatech.

MotionsCloud is an AI (artificial intelligence)-based damage inspection solution company and plans to relocated and expand its Korean branch in Seongnam to Gwangju.

cbebop@yna.co.kr

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Source: Yonhap News (November 29, 2024)