CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

Chungbuk-do (North Chungcheong Province) said on April 25th that 420 companies have decided to make investment in the region from last July, when the fifth government elected by popular vote took office, to the end of last month.

Chungbuk said 42 companies signed investment agreements with the Province and 378 companies reported their factory establishment without forging agreements.

Those companies’ total investment amount (including those scheduled) is KRW3,915.5 billion, and they plan to hire 16,448 workers.

By type, 397 companies are newly established or expanded, while 23 companies are relocated from other regions.

An official of Chungbuk said “we have reaped this fruitful result thanks to our efforts to promote our image as a business-friendly place by resolving companies’ grievances and providing funds for start-ups,” and added “we will offer up to KRW1.8 billion over the next three years to companies that are newly established or whose factories are relocated to regions where development is promoted at the provincial level.”

Source Text

Source: Yonhap News (April 25, 2011)

**This is an English translation of a Korean news article.