Japanese companies, still struggled with the devastating effects of the East Japan earthquake, are eyeing south Gyeongsang Province for investment.
Kuroda Electric is planning to establish an industrial complex, designated for Japanese companies, in Gimhae in collaboration with its 20 partners, with the total investment likely to surpass hundreds of billion won, according to south Gyeongsang Province in May.
This is the first time in Korea that a foreign conglomerate builds an industrial complex and manufacturing facilities with its partner companies.
The Japan-based company is said to have chosen south Gyeongsang as its new investment destination, in an attempt to improve its uncertain business environment, worsened by electricity shortages in the aftermath of last year's nuclear leakage accidents caused by the earthquake, and to secure its future growth engine.
The company records more than 2 trillion won in annual sales, specializing in flat display, automotive component and information and telecommunication.
The investment will create about 1,600 jobs and draw companies holding patents for cutting-edge technology, consequently creating synergy effects with the relevant industries, south Gyeongsang expects.
The province already enticed Japan's SoftBank to build a data center in Gimhae
last October through a 85 billion won-joint investment with KT.
Source: Yonhap News (May 11, 2012)
** This is the translation of a Korean article.