JEOLLABUK-DO < invest Korea

According to Yonhap News,

(JEONJU=Yonhap News) North Jeolla Province signed investment agreements with China's Weihai Hanweiyuan Trade Co.,Ltd. and Germany's VDM Metals Korea Co., Ltd. on June 2 to build production plants in the Gimje Free Trade Zone (FTZ).

Weihai Hanweiyuan Trade Co.,Ltd. will invest KRW 2 billion in the FTZ to build a 6,000㎡ plant to produce 300 tons of confectionery annually. The plant will create 50 new jobs.

Weihai Hanweiyuan Trade Co.,Ltd. will be the first Chinese manufacturer to invest in North Jeolla Province.

VDM Metals Korea Co., Ltd., a nickel alloy manufacturer, will also invest KRW 2 billion in the FTZ and hire 10 new workers.

VDM Metals Korea Co., Ltd., headquartered in Germany, has seven production plants in countries including the United States and Korea and records KRW 1.3 trillion of sales annually.

ichong@yna.co.kr

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