DGFEZ to succeed in attracting a Korean traditional medicine manufacturer
-A leading Korean traditional medicine manufacturer coming to Yeongcheon High-Level Parts and Materials Industry District with an agreement of $8m investment

 
 DGFEZ and D company in China and Okchundang Co., Ltd. in Korea sealed a MOU in the afternoon of December 19 at DGFEZ in the presence of Jeon, Woo-Heon, vice-governor of economy at Gyeongsangbuk-do, Choi, Gi-Moon, Major of Yeongcheon City, Inseon Lee, President of DGFEZ.
 This joint investment had been negotiated by the collaobration of DGFEZ and Yeongcheon City since last August, and particularly, it was the result of the strategic and proactive investment attraction by offering swift and accurate information on investment and providing competitive factors.
 Meanwhile, the joint venture through the investment agreement will establish a factory (four complexes; 7,095㎡) at a site (11,148㎡) in Yeongcheon District for the manufacturing of Korean traditional medicine to create some 70 new jobs for the youth.
 
  Joint investor, Okchundang Co., Ltd. has been founded in 2002 in Ulju-gun, Ulsan City, and has established its corporation in 2009. In May 2017, it has builted its new headquarters in Daegu Sinseo Research and Development Special District (Medical R&D Zone), growing to become a leading company in Korean traditional medicine e득원중약재판매xtramural herbal dispensaries and Korean traditional medicine.
 Furthermore, Wonhwadang(源和堂), the parent company of the Chinese investment company, was founded in 2003 (Anhui Seong) and is a medium-size company with the sales up to KRW 255 billion won as of 2917 in the manufacturing, processing and distribution of Chinese medicine materials.
 
  Meanwhile, with this MOU the size of the foreign investment in Yeongcheon High-Level Parts and Materials District increased to $191m in nine companies, and the synergy effect in Yeongcheon Korean traditional medicine industry is expected as well.
 Furthermore, with this investment, the joint company will research various raw materials extraction for Korean traditional medicine, develop formulation technologies and high-added value products, and contribute to the activation of the local economy along with a major leap toward a global Korean traditional medicine specialist through proactive marketing.
 
  DGFEZ Commissioner, Inseon Lee, said DGFEZ would “make every effort in supporting the joint company with this investment agreement so that its business value and image as a global Korean traditional medicine manufacturer will be promoted.”
 Meanwhile, DGFEZ will offer its administrative support to the investing company from the inauguration to the completion of the factory through its one-stop services.