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According to Yonhap News,
(POHANG=Yonhap News) The City of Pohang, Gyeongsangbuk-do is continuously attracting foreign investment.
Gyeongbuk-do and Pohang signed MOUs with Ibiden Graphite Korea and Befesa Zinc Korea on November 15 at the City Hall.
Ibiden Graphite Korea is a electronic parts and ceramic product manufacturer with its head office in Japan, and it has been operating isotropic graphite manufacturing facilities in Yeongilman General Industrial Complex since December 2013. It spent USD 30 million to build the plant on a plot of 100,000 square meters.
It plans to expand its business by building a graphite manufacturing plant with extra investment of KRW 37 billion.
Befesa Zinc Korea with its head office in Germany, will newly build a plant that produces high purity zinc oxide in Yeongilman Industrial Complex with a budget of KRW 20 billion.
The City said that these companies will start construction before February next year.
"We will provide active support to the leaders in the field of key material for the future industry," said Lee Kang-deok, Mayor of Pohang.
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** This article was translated from Korean.
Source: Yonhap News (November 15, 2018)