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Gangwon Signs Investment Agreements with 2 Companies

(CHUNCHEON=NEWSIS) Gangwon Province announced June 9 that it signed investment agreements with two companies in Wonju City to build a large-scale plant that is worth KRW 25.5 billion in the Bangye General Industrial Complex in Munmak.


Dairyzen and KAC will invest a total of KRW 22.5 billion to build a plant in the Bangye General Industrial Complex, which will begin operations in March, 2017.

KAC, a technology concentrated automobile parts company that produces steering system and safety belts, will invest KRW 13.6 billion in the plant. The company plans to hire 40 new workers.

Dairyzen, a dairy product producer, will invest KRW 11.9 billion in the plant and create 55 new jobs.

"We have signed the investment agreements to support the regional companies that produce local products. The regional companies were not satisfied with the existing funding system including corporate subsidies as it was concentrated in relocated companies from the metropolitan areas," said Wonju City Mayor Won Chang-muk.

Source Text

Source: Newsis (Jun. 08, 2015)

** This article was translated from the Korean.