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MUSCO Poongsan inked a memorandum of understanding (MOU) for a $15 million investment with North Gyeongsang Province (Gyeongbuk) and Gumi City last month.
MUSCO Poongsan is a joint venture founded in 1997 by U.S. global lighting equipment manufacturer MUSCO and Korea's Poongsan, an advanced materials company. It assembles components imported from MUSCO and sells manufactured goods.
The $15 million investment will go towards building a factory for sports
and stadium-lighting equipment in Gumi, Gyeongbuk in response to growing demands
for nighttime lighting triggered by the popularity of the sports and leisure