GWANGJU < invest Korea

- Entered into export agreement of LED street lights equivalent to 2.5 billion dollar -Supply 0,1 billion dollar for 10 years

The LED lightings produced in Gwangju will be exported to northeastern region of United States earnestly.

Coordinating the visit of delegation headed by mayor Earnest Davis of Mount vernon, New York to Gwangju, Gwangju City announced that 2.5 billion won of the LED street light export agreement has been entered between Sooseong Electronics (수정전자) (CEO Cho Seong-Soo) located in Pyeong-dong Industrial Complex and Sentinel Construction of United State.

Both companies agreed to supply the LED lighting products of 0.1 billion dollar to the northeastern region such as New York, New Jersey, Pennsylvania, etc. for 10 years, to install LED lighting distribution center in Mount Vernon City, and agreeed to supply 4,328 100W class LED street lights as initial order to install at Mount Vernon City.

Gwangju City has promoted various supporting policies as the follow-up measure for the LED lighting products contracted at that time to realize regional LED products exportation and the Soosung Electronics, the regional business, succeeded the development of product meet the technical requirements of U.S. side, which resulted in this agreement.

Since the purchase agreement between Soosung Electronics and Sentinel Construction has been made by overcoming the barrier of the market in United States, which has famous with difficult technical requirements, it is estimated as green light to enter into the American market, of which LED lighting demand is expected to increase greatly.

In addition, both cities entered into the amity and cooperation agreement to increase the exchange and cooperation in various fields such as economy, culture, education, administration, etc. with Mount Vernon City, which is promoting the city regeneration project, and to make efforts to vitalize the exchange in the private sector.

In the meantime, Gwangju City has promoted the overseas export project ambitiously for the countries promoting the energy efficiency policy actively such as United States, Russia, Europe, etc. to overcome the difficulties accompanied with the delay in expansion of LED lighting market and to secure the momentum of Gwangju's optical industry development.

Gwangju City determined to establish the stature of Gwangju as a city of light by promoting the LED competitiveness reinforcing project actively such as acquisition of certifications to improve the product quality, marketing supports, etc. and improves the awareness of 'MIG', the excellent regional product brand at the same time based on this accomplishment.