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According to Yonhap News,
(ULSAN=Yonhap News) Ulsan City signed an investment memorandum of understanding with Kuraray, a leading Japanese chemical company, on May 16 to expand the company's Ulsan plant to manufacture high value-added automobile pvb films.
Kuraray will provide preferential employment for Ulsan residents for the operation of the plant.
The city will offer various administrative support services to the company to ensure its smooth invesetment execution.
Kuraray will invest USD 50 million in the Ulsan plant by 2017 to build a global production base of the high value-added automobile pvb films to meet the demand of the Asia-Pacific region.
Ulsan has conducted several negotiations with Kuraray to attract investment in the city since April, 2015.
leeyoo@yna.co.kr
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Source: Yonhap News (May 16, 2016)
** This article was translated from the Korean.