Youngcheon Free Economic Zone Attracted Environment-friendly Packing Materials Manufacturing Foreign Investment Companies

- Daegu-Gyeongbuk Free Economic Zone Authority Leading the Globalization of the Regional Small and Medium-sized Enterprises!
Successful in Attracting ASPT Inc., Joint-investment Company with Singaporean and Vietnamese Companies –

 Daegu-Gyeongbuk Free Economic Zone Authority (Director: Do Geon-woo) succeeded in attracting ASPT Inc. in which three companies from Singapore, Vietnam, and Korea jointly invested.
 
  Daegu-Gyeongbuk Free Economic Zone Authority, attended by Director Do Geon-woo, Gyeongsangbuk-do Economic Vice Governor Jeong Byeong-yun, Yeongcheon Deputy Mayor Kim Byeong-sam, ASPT Representative Director Seo Cheol-min, and Singapore Scan International CEO Keerthi Abeynayake signed the MOU on July 14 to establish an environment-friendly plastic packing materials manufacturing company in Yeong-cheon High-tech Materials Industrial District Free Economic Zone by investing 18 million dollars (approximately 21 billion won) from 2016 to 2020.  
 
  As the environment-related control has been reinforced globally and the use of the environment-friendly food packing materials has become mandatory effective 2019 under the revised toxic substances act, and to dope with such environmental control preemptively, the jointly invested high-tech food packing materials producing factory is to be established by accepting technologies from the U.S. and capital from Singapore and Vietnam.   
 
  Among the investors, Scan International in Singapore is a company manufacturing and selling environment-friendly plastic packing materials printing machines and plans to develop this joint corporation into an Asia-based promotion center, and HS F&B in Vietnam is planning to utilize the joint corporation’s production technologies for the currently operating food service business, and thus the diverse synergy effects between the companies are expected. 
 
  Meanwhile, by the signing of the MOU, the amount of the foreign investments within Yeongcheon High-tech Materials Industrial District reached 193 million dollars from 8 enterprises in 6 countries, and most of the attracted enterprises have been in the automobile parts-related industry, but by the attraction of this new environment-friendly manufacturing enterprise, the diversification of the attracted industries is expected.    
 
  Jeong Byeong-yun, Gyeongsangbuk-do Economic Deputy Mayor said, “The production of the environment-friendly products is an irreversible task of the times, and Gyeongsangbuk-do will do its best to build the conditions for related companies to make investments with an easy mind.”
 
  Director Do Geon-woo said, “Since taking office, I have made lots of efforts for the globalization of the regional small and medium-sized enterprises and the results of the efforts are appearing in great numbers, and will concentrate utmost administrative power so that the regional small and medium-sized enterprises can actively adopt foreign countries’ advanced technologies and capital to grow into world-class enterprises.”