|TITLE||First Foreign Investment Company in FEZ, Daicel Makes History|
Japanese Company Daicel Holds Groundbreaking Ceremony at Yeongcheon Advanced Parts & Materials Industry District
36 Million Dollar Investment! 200 Plus New Jobs! Produce Inflators for Automobile Airbags
Japan's global automobile parts company, Daicel, held its groundbreaking ceremony at the Yeongcheon with the attendance of over 500 onlookers including Governor Kim Gwan-yong, National Assemblyman Jung Hee-soo, Yeongcheon Mayor Kim Young-seok, Director of FEZ Choi Byeong-rok, CEO of Daicel Fudaba, and local residents.
Daicel was established in 1919 and is based in Tokyo. Its annual sales is 5.1284 trillion won and employs over 9,000 people. It is operating worldwide through its five hub plants in different parts of the world.
The Yeongcheon Automobile Parts factory that is being constructed is meaningful because it is the first foreign invested company in the Gyeongbuk Free Economic Zone and it is expected that foreign investments will follow suit in the future. It will go into test production in May of next year and start mass productions in 2014. It is expected that its production volume will record 7.2 million, while hiring over 200 new employees.
Governor Gyeongbuk, Kim Gwan-yong, stated, "With this historic groundbreaking ceremony for the Daegu-Gyeongbuk FEZ, we will concentrate all our administrative capacities in order to further promote the free economic zone so that we can attract more foreign investments, while also improving residential conditions for the manufacturing activities of foreign companies, as well as for education and medical facilities.