CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

Chungcheongbuk-do (Province) inked an investment memorandum of understanding Thursday with SEMETECH and U-LIM CONCRETE.

SEMETECH, a manufacturer of automotive production facilities, solar modules and photovoltaic generation facilities, decided to relocate its factory and headquarters from Gyeonggi-do (Province) to Danyang-gun (County), Chungcheongbuk-do in a bid to expand industrial outputs.

U-LIM CONCRETE, a Gyeonggi-based manufacturer of prefabricated construction materials, agreed to build a 51,000 square meter-manufacturing facility in Chungju-si (City), Chungcheongbuk-do. This was prompted by the company’s judgment that the province located at the center of the Korean peninsula would ensure the stable supply of materials and cut logistics costs.

The combined investment of the two companies amounted to 37.1 billion won.

“If established, the factories will create about 120 jobs”, a Chungcheongbuk-do official said.

Source: Yonhap News (Feb. 21, 2013)

** This is the translation of a Korean article.