JEOLLABUK-DO < invest Korea

According to Yonhap News,

(JEONJU=Yonhap News) North Jeolla Province has achieved 86 percent of its 2014 goal as the province has attracted 112 companies at home and abroad by the end of October.

According to the province on November 12, the 112 companies will bring KRW 761.4 billion of investment and create 4,388 new jobs.

The province will easily reach its goal of attracting more than 120 companies as there are still other companies at home and abroad that the province will attract by the end of December.

Among the companies, 31 companies will transfer from other regions, 62 will be newly established and 19 will be expanded.

By sector, automobile parts companies accounted for the most with 26 companies, followed by 25 metal and steel companies, 22 machinery and equipment companies, 20 food companies, 5 chemicals companies and 5 textiles companies.

"In the past, we attracted companies with cheap sales price and labor costs. Now, however, companies choose us for the development of Saemangeum project, the to-be established Korea-China Economic Cooperation Zone, establishment of the Honam Express Railway and other expanded economic infrastructure," said a province official.

lc21@yna.co.kr

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