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According to Yonhap News,

The Saemangeum Development and Investment Agency (SDIA) announced on July 11 that it had signed an investment agreement with Dongmyeong Company, a secondary battery material supplier, and Dowon Industrial Machinery, a heavy equipment parts manufacturer.

According to this agreement, Dongmyeong will build a secondary battery and cathode material manufacturing facility in October this year on a site of 145,000 square meters in the Saemangeum Industrial Complex by investing KRW 15.5 billion.

In addition, Dowon will commence construction of a plant in the Saemangeum Industrial Complex in September this year and hire 30 employees.

These companies are known to have decided to invest in the Saemangeum Industrial Complex, viewing that there is high possibility of infrastructure establishment including ports and logistics facilities.

Those who attended the signing ceremony said that they would take this investment as an opportunity to ensure companies and the region could grow in harmony.

jaya@yna.co.kr

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Source: Yonhap News (July 11, 2022)