Ulsan City Attracts Investment of 9.6 Billion KRW from No.1 Domestic Eco-Friendly Packaging Bag Company
Ulsan City and Shinil PNS Co., Ltd. Sign MOU for New Ulsan Factory
Production of Environmentally Friendly Industrial Packaging 'Multilayer PE Film Bag'
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Ulsan City is attracting investment from eco-friendly industrial packaging manufacturing companies that reduce carbon emissions.
Ulsan City announced that on the 17th at 4 p.m., it will sign a 'Memorandum of Understanding on Investment' with Shinil PNS Co., Ltd. (CEO Moon Do) at the situation room on the 7th floor of the city hall main building.
Through this investment agreement, Shinil PNS will newly invest in a 'multi-layer PE (polyethylene) film bag production factory' near the Goyeon-ri business site in Ungchon-myeon, Ulju-gun.
The multi-layer PE film bag production factory will involve a project cost of 9.6 billion KRW, covering a site area of 3,535㎡ and a total floor area of 3,364㎡. Construction will begin in June and is scheduled to be completed by October 2022.
Shinil PNS plans to create local jobs by prioritizing the employment of Ulsan citizens through this investment.
Ulsan City will provide administrative and financial support to ensure the smooth progress of Shinil PNS's investment.
CEO Moon Do said, "Multi-layer PE film bags have several advantages, including environmental friendliness by reducing carbon emissions through the use of recycled materials in the middle layer. Due to the recent surge in demand, we decided to invest in production facilities to proactively respond to this demand."
Mayor Song Cheol-ho stated, "Shinil PNS is a promising company with steady growth in the industrial packaging manufacturing industry. Ulsan City will continue to show interest and support so that the company can grow to have the best competitiveness not only in the domestic market but also in the global market."
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Shinil PNS is a manufacturer of industrial packaging bags supplied to various industries such as petrochemicals, cement, and grains, and has secured the number one market share in Korea through continuous research, development, and investment.
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