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Daegu-Gyeongbuk Free Economic Zone (DGFEZ) said Nakamura Precision Industry started the construction of a manufacturing facility for precision machining tools.
The Japan-based company plans to build the facility on a 19,488 square meter-site in Daegu Technopolis by October with the total investment of $19.7 million.
"Investment attraction from the Japanese company will lead to the introduction of Japanese cutting-edge technology to Korea, which is expected to increase competitiveness of the local industry," said head of the DGFEZ authority Choi Byeong-rok.