(JEONJU=NEWSIS) CEO Lee Young-Kwan of Toray Advanced Materials Korea Inc., a Japanese company that has invested in the Saemangeum Industrial Complex, promised Toray’s support for the expansion of investment in the Saemangeum area.

Lee met with North Jeolla Province Governor Song Ha-jin on February 4 and said, "If we establish a polyphenylene sulfide (PPS) resin plant in Gunsan, it will contribute to expanding the investment of Japanese companies in the Saemangeum area. We will be ever more open to cooperation.”

"We expect the success of Toray to encourage other foreign companies to invest in the region. Therefore, we will be proactive in cooperating with the company to complete the construction of the plant as planned," said Song.

Japan’s Toray Group, which plans to invest KRW 300 billion (USD 274 million) in the Saemangeum area by 2018, began construction of a PPS resin plant in Gunsan last May and will start pilot production in September.

PPS refers to a super-engineering plastic. More than 70 percent of the production from the Gunsan plant will be exported to China and Southeast Asia.

sds4968@newsis.com

Source Text

Source: Newsis (February. 04, 2015)

** This article was translated from the Korean.