Invest KOREA

(DAEGU=NEWSIS) North Gyeongsang Province announced August 4 that Toray Battery Separator Film Korea Limited (Toray BSF) will invest an additional USD 38 million in the province by 2016.

Toray BSF President Osamu Inoue met with Kim Kwan-yong, Governor of North Gyeongsang Province, to express his gratitude for the province’s proactive support and suggest their additional investment.

Toray BSF signed a USD 325 million investment memorandum of understanding with North Gyeongsang Province and Gumi City in July of 2008 and relocated its plant to Gumi National Industrial Complex No. 4.

The company will make an additional investment in the complex by 2016 to create 80 jobs. It currently has 190 employees.

"The additional investment will focus on increasing production facilities and research and development facilities. The battery separators will be supplied to Samsung SDI, LG Chem and Japan. The plant will produce separator films, one of the four core materials for secondary batteries, to contribute greatly to the development of secondary batteries and Korea’s electric vehicle industry,” said a province official.

Japanese companies account for 40 percent (38 companies) of the 94 foreign companies in the province. Established in 2006, Toray BSF recorded sales of KRW 90 billion (USD 76 million) in 2014.

chc@newsis.com