ULSAN < invest Korea

(Ulsan=NEWSIS)Administration Agency of Ulsan Free Trade Zone announced Oct. 20 that the Agency signed a memorandum of understanding (MOU) with Chinese S.G Stainless Steel Group to invest USD 5 million in the Ulsan Free Trade Zone.

The two agreed to cooperate to invest in production activities and overseas exports if S.G Steel Group moves to Comas Co., Ltd. in the Ulsan Free Trade Zone.

Comas Co., Ltd. will attract USD 5 million from S.G Stainless Steel Group to achieve sales of KRW 28 billion in 2015, KRw 47.6 billion in 2016 and KRW 68.7 billion in 2017 and create 35~40 new jobs.

jhc@newsis.com

Source Text

Source: Newsis (October. 20, 2014)

** This article was translated from the Korean.