Establishment of Jipyeong Brewery Co., Ltd. 3rd Factory Worth 19.4 Billion KRW in Dongchuncheon Industrial Complex

Investment Agreement Ceremony for the Establishment of Jipyeong Brewery's 3rd Factory [Provided by Gangwon Province]

[Asia Economy Reporter La Youngcheol] A 19.4 billion KRW-scale third factory of Jipyeong Brewery Co., Ltd. will be established in the Dongchuncheon Industrial Complex, Gangwon Province.

Chuncheon City announced on the 19th, "We signed an investment agreement for the establishment of the third factory together with Gangwon Province and Jipyeong Brewery Co., Ltd."

According to this agreement, the parties will cooperate to invest 19.4 billion KRW over three years from May this year to May 2024 to establish the third factory of Jipyeong Brewery Co., Ltd.

According to the city, Jipyeong Brewery Co., Ltd. plans to expand investment in manufacturing facilities and job creation in Chuncheon, and the city and Gangwon Province will provide administrative and financial support for the successful promotion of the project.

The city and Gangwon Province expect that the establishment of the third factory of Jipyeong Brewery Co., Ltd. will revitalize the stagnant local economy.

A city official said, "We will strive for the concurrent growth of related industries, revitalization of the local economy, and job creation."

Meanwhile, Jipyeong Brewery Co., Ltd., established in 1925, is a manufacturer of Takju and Yakju, designated as Registered Cultural Heritage No. 594 of Korea's Modern Cultural Heritage in 2014.

It established its second factory in the Dongchuncheon Industrial Complex in 2018, and the third factory, with an area of 5,423㎡, will produce Makgeolli and Yakju. The new employment scale is 80 people.

As of the end of 2019, Jipyeong Brewery Co., Ltd. is a Makgeolli production specialist company with assets of 17.4 billion KRW, 62 employees, and annual sales of 20 billion KRW.

This content was produced with the assistance of AI translation services.