Daechang Danjo Signs MOU with Japan's Shinkoshoji for India Joint Venture
[Asia Economy Reporter Kum Boryeong] Daechang Forging announced on the 18th that it has signed a Memorandum of Understanding (MOU) to establish a joint venture with Japan's Shinko Shoji in India.
The joint venture shares will be held 66.7% by Daechang Forging and 33.3% by Shinko Shoji. Daechang Forging's investment is expected to be 12.3 billion KRW.
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Daechang Forging explained, "The purpose of the investment is to pioneer the Indian heavy equipment market, facilitate smooth supply to existing suppliers, and strengthen competitiveness through cost reduction."
This content was produced with the assistance of AI translation services.
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