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Gwangju's investment attraction group, led by Mayor Gang Un-tae, drew $320 million investments and signed $120 million export contracts for LED products to be sold under the brand name of MIG, which stands for Made in Gwangju, during the visit to American cities in June.
The U.S.-Based Infinia decided to invest $260 million to build a 50-100MW photovoltaic power plant and a component manufacturing facility.
Another American company NIA Energy also decided to build a part manufacturing facility for electric vehicles, and Hankor, a U.S.-Korea joint venture, agreed to build a factory for eco-friendly nonflammable materials that can replace existing tiles and plaster boards.
In addition, the group inked export contracts worth $110 million and $10 million for LED products in New York and Los Angeles, respectively.
The LED products to be launched with the brand name of MIG are expected
to promote Gwangju's status as a photovoltaic industrial hub to all around the