MUSCO Poongsan inked a memorandum of understanding (MOU) for a $15 million investment with North Gyeongsang Province (Gyeongbuk) and Gumi City last month.

MUSCO Poongsan is a joint venture founded in 1997 by U.S. global lighting equipment manufacturer MUSCO and Korea's Poongsan, an advanced materials company. It assembles components imported from MUSCO and sells manufactured goods.

The $15 million investment will go towards building a factory for sports and stadium-lighting equipment in Gumi, Gyeongbuk in response to growing demands for nighttime lighting triggered by the popularity of the sports and leisure industry.

Source Text

Source: Yonhap News (Jul. 3, 2012)

** This is the translation of a Korean article.