GANGWON-DO < invest Korea

According to Yonhap News,

The 3rd manufacturing plant to produce Korean traditional sparkling rice wine, called ‘Makgeolli’ will be established inside East Chungcheon industry cluster in Gangwon Province. Chencheon city signed an MOU with Jipyeong Jujo, a Makgeolli maker, and Gangwon Province on Jan 19 for the KRW 19.4 billion worth of investments.

Jipyeong Jujo, founded in 1925, has been nominated as one of Korea’s modern cultural heritage and properties in 2014 and built up its 1st and 2nd production plants in Chuncheon city in the year 2018. With its long history and legacy, Jipyeong has grown into one of flagship distilleries in Korea, whose annual sales reach as much as KRW 20 billion as of 2019.

Under the investment contract, Jipyeong invests nearly KRW 19.4 billion over the next three years in its new factory line on a 5,423㎡ site until May in 2024, adding 80 new jobs. The city and the provincial authorities will provide financial –administrative supports to establish strong business base in the city.

Thanks to the investment attraction, business activities in the community is likely to inch upwards, showing vigor from a grim reality amid COVID-19 induced recession.

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Source: Yonhap News (Jan 18, 2021)