The Gyeonggi provincial government has succeeded in inducing US enterprises that were primarily interested in investing in China. 

The provincial government announced on May 6 that Royal Sovereign from New Jersey, US have agreed to invest 30 million dollars and concluded an Moa to establish its plant within the province. 

Royal Sovereign has put 30 million dollars on a construction site of 10,000 pyeong within Hyeongok Industrial Complex, Pyeongtaek, last year. A plant for polarizing film for LCDs and filsm for IT material will be built on this site. 

This plant will be operated with about 500 to 700 employees and is expected to export about 90% of its production. 

According to the provincial government, Royal Sovereign was planning to build facilities to produce its film products after it has successfully developed its own high-tech technology. Royal Sovereign has actually confirmed investing in China by finalizing plant planning because of its exceptional conditions of providing a building site in Shandong, China. 

However the provincial government emphasized that many related companies are taking interest and are moving into Korea with the start of LG-Philips LCD Industrial Complex, active administration assistances are in hands-reach, and skilled technical resources are constantly available, finally turning Royal Sovereign’s from China to Gyeonggi-do after a month persuasion. 
(Rest omitted) 

Source: Yonhap News Agency, May 6, 2004