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Changwon City Signs Investment Agreement with Star Leports USA

(CHANGWON=NEWSIS) Changwon City signed an investment memorandum of understanding (MOU) with Star Leports USA, a foreign-invested company, on January 15 for an investment in the Gapo area of the Masan Marine New Town.


Changwon City Mayor Ahn Sang-soo, Star Leports USA CEO Park Tae-geum and Hyundai Fitness Center CEO Kang Sin-gil signed and exchanged the MOU.

Star Leports USA, headquartered in the United States, has a branch office in Korea. As a sports equipment producer with annual sales of USD 1 million, the company plans to sign an investment agreement with Changwon City by establishing a separate foreign-invested company.

Once the company builds and starts operations in a sports equipment production plant in the city, it will expand not only its domestic demand, but also exports to the North American, Latin American, Chinese and Southeast Asian markets. The company, which will sign a land purchase agreement in May, will hire 28 workers with a total investment of KRW 5 billion in a 3,445 ㎡ area.

"When the business begins operations in the second half of the year, we will act as a bridge to export Korea’s excellent products by maximizing both the domestic distribution and the distribution network that we have secured in the United States. We will strive to revitalize Changwon’s economy and create new jobs," said Park.

"I sincerely appreciate your decision to invest in the Gapo area of the Masan Marine New Town despite the global economic recession and low growth. The MOU with Star Leports USA will be a catalyst for the economic recovery of Masan," said Ahn.

Source Text

Source: Newsis (January. 15, 2015)

** This article was translated from the Korean.
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