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Wonju-si attracted investment from a high-tech defense industry
Wonju-si, Gangwon State, has laid the foundation to grow into a high-tech defense and science city by attracting defense industry companies.
The city signed an MOU on new investments with the Korea Precision Materials Industry (KPMI), a company specializing in high-performance ballistic composites, at City Hall on June 12.
It is the first defense company that the city attracted since the the declaration ceremony of Wonju Vision for a high-tech defense and science city in August last year.
Under the MOU, the KPMI will invest KRW 10 billion to build a manufacturing plant for high-performance ballistic composites in the Munmak General Industrial Complex in Wonju.
It is expected to hire 40 new employees.
The KPIM is pushing for development, manufacturing, and localization of the high-performance ballistic composites, for the first time in Asia.
The KPIM's CEO said, "we decided to invest in Wonju considering it's a good city for business based on the transportation network and proximity to the capital area," adding that "We will solidify the competitiveness of the defense industry by creating synergy effects with Wonju-si."
jlee@yna.co.kr
Source Text
** This article was translated from Korean.
Date
2024.06.14
Views
21
According to Yonhap News,
Wonju-si, Gangwon State, has laid the foundation to grow into a high-tech defense and science city by attracting defense industry companies.
The city signed an MOU on new investments with the Korea Precision Materials Industry (KPMI), a company specializing in high-performance ballistic composites, at City Hall on June 12.
It is the first defense company that the city attracted since the the declaration ceremony of Wonju Vision for a high-tech defense and science city in August last year.
Under the MOU, the KPMI will invest KRW 10 billion to build a manufacturing plant for high-performance ballistic composites in the Munmak General Industrial Complex in Wonju.
It is expected to hire 40 new employees.
The KPIM is pushing for development, manufacturing, and localization of the high-performance ballistic composites, for the first time in Asia.
The KPIM's CEO said, "we decided to invest in Wonju considering it's a good city for business based on the transportation network and proximity to the capital area," adding that "We will solidify the competitiveness of the defense industry by creating synergy effects with Wonju-si."
jlee@yna.co.kr
Source Text
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Source: Yonhap News (June 12, 2024)
** This article was translated from Korean.