GWANGJU < invest Korea

According to Yonhap News,

Gwangju's Investment Attraction Group led by Mayor Gang Un-tae has drawn $320 million-investments and signed $120 million export contracts during its visit to American cities.

The U.S.-based Infinia has decided to invest $260 million to build a 50-100MW photovoltaic power plant and a component manufacturing facility.

Another American company NIA Energy will build a part manufacturing facility for electric vehicles, and Hankor, a U.S.-Korea joint venture, will build a manufacturing facility for eco-friendly nonflammable materials that can replace existing tiles and plaster boards.

In addition, the group inked export contracts worth $110 million and $10 million for LED products to be sold under the brand name of MIG, which stands for Made in Gwangju, in New York and Los Angeles, respectively.

The LED products to be launched with the brand name of MIG will promote Gwangju's status as a photovoltaic industry hub to all around the world.

The group begins its journey to five cities in Brazil and America to host investment and export seminars from June 16.

Source Text

Source: Yonhap News (June 24, 2012)

 ** This is the translation of a Korean article.