Gyeonggi Provincial delegation signed MOU with Denso International Kor..
Createdd 2014-01-21 Hit 656
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Gyeonggi Province has Announced a New MOU with Denso International Korea in Japan for USD 29 Million of Investment in Automotive Parts
Kim Moon-soo, the Governer of Gyeonggi province, who is currently visiting Japan to promote investment in the province, visited the company on January 16 to seal the deal, which will result in the construction of new automotive R&D facilities in Uiwang city.
Denso International, incorporated on December 16, 1949 in Kariya city of Aichi prefecture is now the world’s second biggest automotive parts manufacturer with a workforce of 132,000 and annual revenue of JPY 3.59 trillion.
Under this agreement, Denso International will start setting up R&D facilities on a 20,000m2 site in Uiwang Poil Business Zone 2, and cooperate with a local automobile manufacturer on the development of air conditioning systems.
Gyeonggi province expects this to result in a local and nationwide economic boost including production inducement worth approximately KRW 79.8 billion and added value of about KRW 23.1 billion over the next five years, as well as strengthening the global competitive edge of the local automotive industry.
Governor Kim commented during the ceremony, “I truly appreciate the construction of new R&D facilities in Uiwang city and the added investment as well. My hope is that this investment will assist the development of Korean companies in the automotive industry, create new jobs for Korean youth and, most importantly, improve the relationship between Korea and Japan.”
Before the ceremony he visited Hitachi Zosen, a power generation facility in Sinagawa, Tokyo and reviewed its waste incinerating facility.
He was so impressed by what he saw there that he described a plan to “reflect the advantages of the eco-friendly combustible waste treatment process in the environment-related polices of Gyeonggi province”.
The investment attraction delegation is scheduled to visit Nanotem for another investment MOU, and will attend a luncheon meeting with the consul general of Niigata prefecture.
