To build an R&D and production facility in Jukjeon Digital Valley

To hire 50 high-quality R&D people by January 2016
To spark expectations about the development of related sectors, such as shipbuilding, power generation, and industrial plants

Emerson Electric of the U.S., which specializes in automated measurement and control devices, is planning to invest 40 million USD in Jukjeon Digital Valley in Yongin, Gyeonggi Province.

On February 27, the Gyeonggi Provincial Office reported that it signed an investment agreement with Emerson Process Management (EPM), a subsidiary of Emerson Electric in the U.S., at Daou Digital Square in Jukjeon Digital Valley. General Manager Korea Patrick Deruytter of EPM, Daou Tech Vice Chairman Choi Heon-gyu, and Yongin Mayor Kim Hak-kyu attended the signing ceremony.

Under the agreement, EPM will relocate its existing facility to an R&D and production building, which will be newly built on a 8,115㎡ site in Jukjeon Digital Valley by January 2016.

EPM plans to hire 50 high-quality R&D people by January 2016 as part of the new investment and it is expected that the investment will result in the development of related sectors, such as shipbuilding, power generation, and industrial plants.

The Gyeonggi Provincial Office said that the American business has finally decided on the investment as a result of its pertinacious efforts without offering financial support like tax reductions or the provision of a site, which makes the event all the more valuable.

EPM’s investment decision is the second case of FDI in Jukjeon Digital Valley following the investment of 17 million USD by Veeco, which is a U.S. manufacturer of LED core equipment, in October 2010. The Gyeonggi Provincial Office expects that the investment decision made by EPM this time will provide a boost in the area’s emergence as an information technology hub.

Commenting on the event, Mr. Yeo Jae-hong, the Head of the Investment Promotion Department at the Gyeonggi Provincial Office, said, “We will provide EPM with all possible administrative support so that it may develop a successful business here in Korea.”

Jukjeon Digital Valley is a 35-acre site in San 25-2 Jukjeon-dong, Yongin-si. It was formed by Daou Tech in 2010. At present, the site houses Dongbu Data Center, Shinhan Financial Group Data Center, Hanwha Data Center, and Veeco Korea Research Center.