The Incheon Free Economic Zone (IFEZ) authority inked an investment agreement with a joint venture between Korea's flat LCD panel manufacturer Han Wool Information Tech and China's camera module manufacturer IMATEC. The joint venture agreed to invest a total of 53.2 billion won to build a manufacturing and R&D center for backlights and touch screens to be equipped in mobile handsets in Songdo International City.
IMATEC is a Shenyang-based investment company operating the government's funds and Han Wool Information Tech is one of Korea's promising companies, engaged in the core technology development project, led by the Ministry of Knowledge Economy.
"The investment attraction is expected to create 200 jobs and increase
exports to China by establishing a strong foothold to enter the Chinese market,"
said an IFEZ official.
Source:Yonhap News (May 9, 2012)