Investment by Solar Panel Manufacturer in Buan Renewable Energy Complex
Jeonbuk Province, Buan County, Kyungil Greentec Co., Ltd., and EM First Co., Ltd. Sign Investment Agreement
[Jeonju=Asia Economy Honam Reporting Headquarters Reporter Kim Han-ho] Two solar power-related manufacturing companies are expected to establish facilities in the renewable energy industrial complex in Buan-gun, Jeollabuk-do.
On the 21st, Jeollabuk-do announced that it signed an investment agreement with Buan-gun (Governor Kwon Ik-hyun), Gyeongil Greentec Co., Ltd., and EM First Co., Ltd.
According to the agreement, Gyeongil Greentec Co., Ltd. plans to invest 3 billion KRW to build a solar energy storage device production factory on an 8,214㎡ site in the Buan Renewable Energy Industrial Complex.
With Gyeongil Greentec's investment, it is expected to create 10 jobs and generate sales of 40 billion KRW annually from the production of 5,000 energy storage devices.
Additionally, EM First Co., Ltd. plans to invest 1 billion KRW to build a solar LED lighting fixture production factory on a 1,443㎡ site.
EM First is also expected to create 20 jobs and generate sales of 3 billion KRW annually from the production of 5,000 air conditioners and 100,000 solar LED lighting fixtures.
In particular, Gyeongil Greentec Co., Ltd. and EM First Co., Ltd. announced that they will proceed with the projects aiming to start construction within the year, in response to the anticipated increase in demand for solar power-related businesses.
Jeollabuk-do and Buan-gun have agreed to actively cooperate in administrative and financial support and permits to ensure smooth progress of the companies' investments.
Meanwhile, the Buan Renewable Energy Complex houses three research institutions: Jeonbuk National University's Renewable Energy Material Development Support Center in the solar power field, the Korea Institute of Materials Science in the wind power field, and the Korea Energy Technology Research Institute in the fuel cell field.
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Jeonju=Honam Reporting Headquarters Reporter Kim Han-ho stonepeak@asiae.co.kr
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