JEOLLABUK-DO < invest Korea

According to Yonhap News,

(NAMWON=Yonhap News) COVIX, a cosmetics manufacturer, relocates its factories to Noam Industrial Complex in Namwon, Jeonbuk-do.

COVIX signed an investment agreement with the City and the Province to invest KRW 30 billion by 2021. The amount will be used to equip basic cosmetics, color cosmetics and hair product production facilities at Noam industrial complex.

The company plans to expand its business into cosmetics raw materials development by utilizing CGMP and Global Cosmetics Convergence Center, which Namwon City designed to cultivate cosmetics industry as a new growth engine.

COVIX also decided to use materials produced in Namwon first and foremost.

  If the investment is made complete accordingly, it will create new jobs for 150 people.

COVIX is a Siheung-based cosmetics company established in 2007.

The City mayor said, "We will help the company grow into a global company by utilizing our support facilities for cosmetics.".

doin100@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (December 24, 2018)