GWANGJU < invest Korea

According to Yonhap News,

(NAJU=Yonhap News) Forty-four energy-related companies have agreed to invest KRW 160 billion in Gwangju and South Jeolla.

Gwangju Metropolitan City, South Jeolla Province, and Naju City signed contracts with companies including Korea Electric Power Corporation (KEPCO) and KEPCO KDN for investment in the Bitgaram Energy Valley at the KEPCO headquarters on November 15, 2016.

Two large conglomerates, two foreign companies and 40 small- and medium-sized enterprises pledged to invest KRW 162.8 billion, which is expected to create 1,128 new jobs.

As a result, the number of companies that announced investment in the Energy Valley, built centering on Naju Bitgaram Innovation City, increased to 177.

As of the signing date, 75 out of 133 companies which earlier entered into agreements have carried out investment, while additional 31 companies are expected to execute their investment plan by the end of this year.

"The energy valley has become an exemplary case of co-prosperity and mutual development between relocated local governments and local communities," said Huh Nam-sik, chairman of the regional development committee. "We hope that the energy valley will be a driving force of creative economy that continues to strengthen national competitiveness," he added.

sangwon700@yna.co.kr

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