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South Chungcheong Province Signed an Investment Contract Valued Over USD10 Million with Two Major Businesses in Japan

South Chungcheon province reached an MOU with two Japanese enterprises - KJC and Moririn Co., Ltd- at the government office on Oct 8. KJC is a Korean -Japanese manufacturer of baby tableware and toys, running business in Japan and Asia. Under the investment plan worth USD5 million, the province allowed KJC to build up a new distribution center and facilities, located in Boryung Ungcheon industrial complex (9,105m3) to produce infant products. The construction appears to start from the second half of next year.

The other investment partner, Moririn Co., Ltd, is a global enterprise with 23 textile / fabric factories in Asia. They're also planning to scale up the producing line for dope dyed fibers in the next coming 6 months in Dangjin Hapdeok industrial complex (13,165m3).

Locally, there's rising expectation for the ripple effect brought by the Korea- Japan joint investment on employment growth(40 additional new positions) and bigger volume of sales and exports(KRW5.1 billion and KRW3.5 billion).

The governor of the province, Yang Seung Jo, says "I'd like to express my sincere appreciation to all the parties involved for the investment, especially at a time when this place is now transforming into a new hub of the Pan Yellow Sea Economic Bloc. I'll give full support to local economy to make sure that the regional development and business growth can come along."

Source : yonhap news (Oct. 8 2019)

** This article was translated from Korean.

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