Tsubakimoto Chain co. signs $25 million MOU to locate in the FEZ
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June 18th-BJFEZA Commissioner Ha Myeng-keun along with Chio Kyung-hwan, current Minister fo Knowledge and Economy attended an MOU signing ceremony in Tokyo. The ceremony celebrated the proposal by both the BJFEZ Authority and the Tsubakimoto Chain Co. of Japan.The MOU valued at US$ 25 million calls for the construction of a 25,815 m2 auto parts manufacturing facility in the Nammoon Parts and Materials Industrial Park located in the Ungdong district of the BJFEZ.
The Tsubakimoto Chain Co. is a well-known multi-billion dollar Japanese auto-parts company supplying auto giants like Toyota.
This MOU signing follows intensive rounds of road shows to Japan courting the Japanese auto-parts industry; Japanese investment in total IFDI (Inward Foreign Direct Investment) flows into the FEZ account for over one-quarter in dollar terms since 2004. While in MOU terms, Japanese contributions account for nearly 26% of the total proposed projects. Japanese investors are crucial to the on-going development of the Busan-Jinhae Free Economic Zone
If you have any further questions, contact Moon Song-a at 51-979-5341.
