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Խù[Toray Industries to Invest KRW 220 Billion in Gumi]
TITLE Toray Industries to Invest KRW 220 Billion in Gumi
NAME DATE 2017-11-07 11:12:46
MAIL gbinvest@korea.kr 
FILE ÷ 201711071112463239.JPG 201711071112463239.JPG
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Toray Industries to Invest KRW 220 Billion in Gumi
- To expand the production lines for lithium-ion cell separator membrane in the 4th Gumi Naitional Industrial Complex -

Gyeongsangbuk-do and Gumi-si signed a memorandum of understanding (MOU) for KRW 220 billion in foreign direct investment (FDI; approximately USD 110 million), and creation of 60 new jobs with the global industry giant, Toray Industries. The signing ceremony was held on October 27 (Friday) at the International Commerce Exchange Center. In attendance at the signing were Governor Gwan-yong Kim, Gumi Mayor Yu-jin Nam, and Toray BSF Korea CEO and President Teiji Nakamura.

Under the MOU, Toray BSF Korea will build 3 new production lines for lithium-ion cell separation membranes in a 27,000- area inside the 4th Gumi National Industrial Complex, from 2017 to 2020. This will increase the total number of production lines to 13. Upon completion of the project in 2020, the production capacity for separation membrane will increase by 55%.

The new investment is aimed at providing a preemptive response to the growing demand for the material from the lithium-ion cell market, which is growing at a fast pace in Korea, China, and Japan. The ultimate goal of this aggressive investment is to secure the largest share of the global separation membrane market.

Toray BSF Korea is a foreign company exclusively invested by Toray Industries. It previously signed an MOU with Gyeongsangbuk-do and Gumi-si in November 2007, under which it began the production of separation membranes in 2009. Since then, the company has made continuous investments. It contributed to the economic growth in the Gumi area with its total investment of KRW 600 billion and creation of 370 jobs.

With regard to the new MOU, Gyeongsangbuk-do Governor Gwang-yong Kim said: “I would like to express my gratitude to Toray Industries for making this ambitious decision to invest in the lithium-ion cell sector, despite the recess that hit the local economy. Lithium-ion cells are an essential part of electric cars and energy storages that will usher in the Fourth Industrial Revolution. I am confident that the new investment will breathe more life into the local industries and the economy.

“I hope we will use this opportunity to launch our efforts to develop Gumi into a global strategic point for the secondary battery material industry so that we can meet the growing demands from the markets and take the lead in the secondary cell market,” he added.