DAEJEON < invest Korea

According to Yonhap News,

On May 24, Daejeon-si said that it has signed an MOU on investment worth KRW 117 billion with Korea Wheel Corporation, a steel wheel producer.

Daejeon's mayor and CEO of Korea Wheel Corporation attended the MOU signing ceremony, pledging the investment of corporate relocation and Daejeon's support.

Korea Wheel will relocate its steel wheel production facilities for cars and trailers to a site of 30,000 pyeong in Pyeongchon Industrial Complex in Seo-gu and will also build some new production lines.

Daejeon-si expects great economic ripple effects due to the hiring of more than 100 new workers and relocation of existing employees.

Daejeon's mayor said, "we will spare no effort in supporting the company to ensure investment in Daejeon is an excellent choice."

psykims@yna.co.kr

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Source: Yonhap News, (May 24, 2024)