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According to Yonhap News,

A photovoltaic system maker, YH energy Co., Ltd, and an energy distribution panel board producer Juwang Industrial Co., Ltd signed an occupancy agreement with Saemangeum Development and Investment Agency (SDIA) on Jan 27. Under such deal, both reached a consensus on moving part of their manufacturing operation into the Saemangeum industry cluster by the end of July this year.

With KRW 16.3 billion, YH energy is set to build up a new manufacturing facility on a 40,000㎡ site within the cluster to supply PV modules and miniaturized wind turbines. Juwang unveiled a KRW 8.3 billion worth of investment plan to set up a control box and panel boards producing plant on a 26,000㎡ site in the cluster.

The head of SDIA said “Saemangeum is now striving for the formation of the world-class renewable energy cluster. We’ll provide all forms of support to help the investors keep their business stable and further scale up.”

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Source: Yonhap News (Jan 27, 2021)