NEWS
Four Seoul-based Companies to Relocate Business to
Writer
administ
Posted at
2009-11-07
According to Yonhap News,
The South Jeolla Provincial Government concluded investment deals with four Seoul-based companies including Plus Profit Co. at the provincial government complex on August 19.
Under the agreements, Plus Profit and Cuberix are planning to invest KRW 10.5 billion and KRW 4.6 billion in Muan and Yeongam respectively (16,500㎡). Cuberix manufactures wind-proof-pollution-free plastic greenhouses from polycarbonate known for its high thermal efficiency and durability.
In addition, Nuvotec will invest KRW 3.5 billion to build PVC water pipes in Naju, and its parter company Korea Plastic Co. also moved its business from Wonju, Gangwon Province to Naju, South Jeolla Province. Nuvotec is a leading pipe manufacturer with 32% market share of the domestic PVC pipe market. The company developed highly rigid PVC double wall pipes for the first time in Korea and acquired new environment technologies (NET).
The South Jeolla Provincial Government expects the relocation of the four companies to create over 160 new jobs in the region. Meanwhile, as many as 21 companies have agreed to relocated their businesses to Jeollanam-do this year, up from nine companies last year, and one or two companies until 2007.
Source: Yonhap News (August 19, 2009)
** This is an English translation of a Korean news article.
The South Jeolla Provincial Government concluded investment deals with four Seoul-based companies including Plus Profit Co. at the provincial government complex on August 19.
Under the agreements, Plus Profit and Cuberix are planning to invest KRW 10.5 billion and KRW 4.6 billion in Muan and Yeongam respectively (16,500㎡). Cuberix manufactures wind-proof-pollution-free plastic greenhouses from polycarbonate known for its high thermal efficiency and durability.
In addition, Nuvotec will invest KRW 3.5 billion to build PVC water pipes in Naju, and its parter company Korea Plastic Co. also moved its business from Wonju, Gangwon Province to Naju, South Jeolla Province. Nuvotec is a leading pipe manufacturer with 32% market share of the domestic PVC pipe market. The company developed highly rigid PVC double wall pipes for the first time in Korea and acquired new environment technologies (NET).
The South Jeolla Provincial Government expects the relocation of the four companies to create over 160 new jobs in the region. Meanwhile, as many as 21 companies have agreed to relocated their businesses to Jeollanam-do this year, up from nine companies last year, and one or two companies until 2007.
Source: Yonhap News (August 19, 2009)
** This is an English translation of a Korean news article.