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A joint venture established between Gimhae and Japan's Kuroda Electric is gearing up to apply for industrial complex designation next month.
Established in August, the joint venture will build a 400 billion won ($357 million) industrial complex in Gimhae designated for Japanese companies. Construction of the complex is scheduled to begin in the first half of 2013.
Kuroda Electric, an automotive component manufacturer, made headlines earlier this year when it signed a memorandum of understanding (MOU) with Gimhae and became the first Japanese conglomerate to establish an industrial complex in Korea. Gimhae had long made an effort to draw Kuroda's investment through its 10-year partner, eCOREA.
The industrial complex, which will house Kuroda Electric's partner companies by 2015, is expected to generate 3,000 jobs and boost relevant industries.
"What's most important in drawing investment from prudent Japanese investors is gradually building up their trust," said a Gimhae official.
Source: Yonhap News (Sep. 5, 2012)