3M Korea delivers its intention for additional investment at Jangan

Gyeonggi and 3M Korea will continue its partnership made since March 2005 when their very first MOU was signed.

On Jan. 31 at 2 PM, the provincial governor Kim Moon-soo had a meeting with Mr. Michael F. Roman, the president of 3M Korea sharing the progress of its business at Jangan 1 complex and discussing the future investment plan. At the meeting, president Roman handed over the Letter of Intention to invest in the land sized 25,000 pyeongs at Jangan 2 complex.

“Plant producing LCD film for brightness improvement established at Jangan 1 complex of Hwaseong started its operation in August last year. And another production plant for dust protection fabric masks which requires US$140 million is now expecting to see its opening very soon. We are very much in gratitude to Gyeonggi province and Hwaseong city for their active support and cooperation,” said the President Roman.

“We are putting much of our attention to have additional facilities here which may be required from the end of this year upon the active support and trust that are shown by the local government all this while and the increasing demands of dust protection fabric masks and LCD films.”, continued by the president Roman delivering the LOI expressing the strong intention of making additional investment at Jangan 2 complex and developing collaborative effort with Gyeonggi.

“It is truly appreciated that the world leading company like 3M Korea gave high attention on Gyeonggi to make an investment which after all guided us to become the place of the great spot to run business. Also, owing to the continuous investment by 3M Korea, we were able to create large number of jobs and this has definitely contributed in making national economy development. So we expect to have your active cooperation to lure more foreign investments into Gyeonggi. We are also firmly committed to give active and positive administrational support to foreign companies,” replied by the provincial governor Kim.

There is a great expectation set on this collaborative approach for investment inducement between Gyeonggi and 3M Korea, which is based on the cooperation and trust that has already been proved thru the plant establishment at Jangan. Apart from the great result expected from this collaborative approach, new fresh ways to bring foreign capitals into the region are expected to be found also.

After completing the plant producing LCD Film for brightness improvement in August last year, 3M Korea had also finished its new plant for dust protection fabric mask in January and now the trial operation for mass production is scheduled to start.

It took approx. 6 months to complete the production plant for dust protection fabric mask since the MOU was made in June last year, which will be considered as a production base for Asian countries.