Gyeonggi Province attracts KRW 27 billion investment in Pyeongtaek BIX
Createdd 2016-11-04 Hit 509
Contents
Yellow Sea
Free Economic Zone Authority (YESFEZ) signs agreement with Shin Heung
Precision, Daeil Transportation, and Gadal Hitech on October 21
Investment in
manufacturing facilities (e.g. automobile chassis) and logistics center (e.g.
cold storage)
At 11:00am on October 21, the
Yellow Sea Free Economic Zone Authority (YESFEZ) signed an investment agreement
at Pyeongtaek BIX with Shin Heung Precision, Daeil Transportation, and Gadal Hitech
in the YESFEZ conference room at Poseung-eup, Pyeongtaek. ⓒ Gyeonggi G-News
The Yellow
Sea Free Economic Zone Authority (YESFEZ) successfully concluded this agreement
with three companies for investment totaling KRW 27 billion in the Business
& Industry Complex (BIX) in Pyeongtaek.
At
11:00am on October 21, YESFEZ signed an investment agreement at Pyeongtaek BIX
with Shin Heung Precision, Daeil Transportation, and Gadal Hitech in the YESFEZ
conference room at Poseung-eup, Pyeongtaek.
YESFEZ
President Jeon Tae-heon, Pyeongtaek Mayor Kong Jae-kwang, the CEOs of each
investing companies, Gyeonggi Provincial Assembly Vice Chairman Yeom Dong-sik,
and officials of the Gyeonggi Urban Innovation Corporation and Pyeongtaek Urban
Corporation attended the signing ceremony.
The investment,
totaling KRW 27 billion, will be used for the construction of manufacturing
facilities and a logistics center on a 38,000m2 site in Pyeongtaek
BIX.
For
the initial development phase, Shin Heung Precision, a chassis producer, will
invest KRW 13 billion to open a manufacturing facility on a site of 16,500m2
for specially-equipped vehicles.
Distribution
company Daeil Transportation will invest KRW 10 billion to construct a
logistics and cold storage facility on a site also measuring 16,500m2
for its Chinese operations.
Gadal
Hitech, a company with outstanding precision tool technology, will invest KRW 4
billion in the establishment of a production and R&D center on a site of
5,000m2.
YESFEZ
President Jeon Tae-heon said, “We hope that these new manufacturing and production
facilities and the logistics center will coordinate with Pyeongtaek Port and
perform a key role in the development of our local economy.” Jeon added, “We’ll do our utmost to create optimal
industrial infrastructure at YESFEZ, which is near the metropolitan area as
well as Pyeongtaek Port.”
Between
2008 and 2020, a total of KRW 800.4 billion is being invested in Pyeongtaek BIX,
which will be built on a 2,074,000m2 site in the Poseung-eup area of
Pyeongtaek.
Kim
Hee-won khw2403@naver.com
