JEOLLABUK-DO < invest Korea

According to Yonhap News,

(JEONGEUP=Yonhap News) The Jeongeup Municipal Government in Jeollabuk-do will develop a railway industry cluster (221,861 m2) in Habu-ri, Ibam-myeon, which will specialize in railway car production.

The city has finalized the land transaction deal and plans to start the construction of the cluster in May, with the aim of completing it by the end of next year.

The project is estimated to cost the city KRW 21 billion.

Dawon Sys, a motor car manufacturer, has already agreed to become a tenant once the cluster is completed.

The company plans to invest KRW 30 billion to the creation of a new factory in the cluster (83,000 m2), which can produce over 360 railway cars a year.

Confirming the city government’s commitment to seeing the project through, Lee Su-cheon, head of the Special Zone Support Division at the Jeongeup Municipal Government, explained: “The cluster, once completed and launched into full operation, will help create 520 more new jobs and generate a production inducement effect of KRW 52.9 billion a year.”

doin100@yna.co.kr

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Source Text

Source: Yonhap News (Mar. 14, 2018)

** This article was translated from the Korean.