JEOLLABUK-DO < invest Korea

According to Yonhap News,

(JEONJU=Yonhap News) A maker of electric vehicles (EVs) has decided to invest in Gimje, North Jeolla Province.

North Jeolla Province, Gimje City and IT Engineering signed a memorandum of understanding on February 20 at the province government office, and agreed on cooperate on investment and job creation.

IT Engineering will invest a total of KRW 80 billion in the Gimje Horizon General Industrial Complex, hire 100 new employees, and start making 10,000 EVs in the second half of next year.

The company is also considering making a second investment near the site, sources say.

Founded in 2002, IT Engineering is an EV R&D company that has carried out projects to develop some thirty new cars for Japanese and Chinese companies.



ichong@yna.co.kr

Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.