JEOLLABUK-DO < invest Korea

According to Newsis,

Two companies manufacturing photovoltaic-related products, Kyungil Greentech and EmFirst committed investment in Buan New Renewable Energy Complex, North Jeolla Province, expected to create jobs and revitalize local economy.

Jeonbuk-do signed an investment MOA with Buan-gun, Kyungil Greentech, and EmFirst at the provincial government office on July 21. .

Kyungil Greentech is to invest KRW 3 billion on the area of 8214㎡ in Buan New Renewable Energy Complex to build a factory to produce solar energy storage system, while EmFirst is to invest KRW 1 billion on the area of 1443㎡ to build a factory producing solar LED lighting instrument.

With the prospect of an increase in demand for photovoltaic business, they plan to commence construction of factories within the year.

Kyungil Greentech expects to create 10 jobs with KRW 40 billion in sales from annual production of 5,000 ESS units.

EmFirst expects to generate 20 jobs and KRW 3 billion in sales from annual production of 10,000 photovoltaic LED lighting instruments and 5,000 air handling units.

Investment of the two companies are likely to play a catalyst role in going ahead with renewable energy projects in Saemangeum Industrial Complex and land sales of Buan New Renewable Energy Complex.

Vice governor of Jeonbuk-do said, "most of all, it is very meaningful to attract photovoltaic companies to Buan New Renewable Energy Complex, which needed investment," adding "Jeonbouk-do will provide active support to ensure revitalization of Buan's economy and job creation.

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Source: Newsis (July 21, 2021)