According to Yonhap News,



Yeonggwang-gun, Jeonnam-do (South Jeolla Province) said on October 27th that it successfully attracted investment worth USD 40 million from two Chinese companies in the lodging and food processing and distribution industries.



According to Yeonggwang-gun, its investment promotion team invited 30 local business people in Shanghai, China and held an investment seminar, and concluded a USD 30 million agreement to develop the lodging and tourism projects.



Yeonggwang expects that the projects, if successful, will provide Chinese visitors to the region with comfortable places to relax and generate 1,000 jobs.



A Shanghai company signed an investment agreement worth USD 10 million with Yeonggwang-gun, and plans to carry out food processing and distribution businesses by using eco-friendly agricultural and marine products of Yeonggwang as main ingredients.



Vice County Governor Choi Jang-ju of Yeonggwang-gun said “Chinese businesspeople showed high interests in our investment environment,” and added “if we have regular exchange with them, further investment in new renewable energy such as electric vehicles will be induced as well.”



Source Text



Source: Yonhap News (Oct. 27, 2010)



**This is an English translation of a Korean news article