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Sumitomo Chemical to Invest USD 300 Million in Pyeongtaek

Gyeonggi Province has signed an agreement with Japan’s Sumitomo Chemical for an investment of USD 300 million in the Pyeongtaek Poseung Industrial Complex.

Under the agreement, Dongwoo Fine-Chem, a subsidiary of Sumitomo Chemical, will build facilities to manufacture touch sensors used for smartphones and tablet PCs in the complex by the end of next year. The company achieved KRW 2.3 trillion in sales last year through the production of LCD films and parts.

The provincial government expects the deal to create many jobs in the region.

“We will spare no administrative effort for the success of Dongwoo Fine-Chem. We will also prepare various measures to attract investment from Japanese companies,” said Governor Kim Moon-soon of Gyeonggi Province.

Source Text

Source: Yonhap News (Mar. 24, 2013)

** This article was translated from the Korean.

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