Invest KOREA

A bird’s-eye view of the headquarters of Denso Sales Korea Corp. in Uiwang Poil District

The headquarters of Denso Sales Korea Corp. will be built in Poil Intelligent Town, Uiwang City, Gyeonggi Province

Uiwang City said on March 8th that it agreed with Denso, a global automotive components manufacturer based in Japan, to establish Denso Sales Korea Corp. in Uiwang Poil District.

Denso will invest USD 100 million to build Denso Sales Korea Corp. on the area of 67,465m2 within Poil Intelligent Town in Poil 2 District by December next year. The new building will have ten stories above the ground.

Uiwang City and Denso plan to conclude a contract for the sale of land and sign an MOU in March.

Denso is a multi-national company which has 184 subsidiaries around the world, and produces automotive components and industrial robots.

Uiwang City has pursued 123 projects (to attract 1,000 companies, create 20,000 jobs, and raise the tax revenue of KRW 30 billion) to vitalize the regional economy, bearing its first fruit with the agreement with Denso.

The City formed a task force to negotiate with Denso and offer employment subsidy, and reduction or exemption of corporate, acquisition, and property tax.

Poil Intelligent Town was created within Poil 2 Residential District in order to attract companies in the green growth, high-technology and knowledge, and nano-technology industries.

Uiwang Mayor Kim Seong-je said “we will select promising and strategic industries to focus our administrative efforts and support in courting investment.”

Source: Yonhap News (March 8,2011)