Jinju-si and Amicogen to Invest 38 Billion Won to Establish New Factory

Expectations for Job Creation by Promising Bio-related Companies

Jinju City - Amicogen Investment Agreement Ceremony.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province announced on the 6th that it has signed an agreement to invest 38 billion KRW in Amicogen Co., Ltd., a promising bio-industry company, including the establishment of a new factory.

On the same day, at Amicogen headquarters, Jinju Mayor Cho Gyu-il, Gyeongnam Province Deputy Governor for Economy Park Jong-won, Amicogen CEO Shin Yong-cheol, and other company officials attended the signing ceremony for the investment agreement related to the establishment of the 4th factory.

The investment agreement involves establishing a new factory in the Munsan-eup Bio Agricultural Industrial Complex, creating about 160 jobs, and revitalizing the local economy.

Mayor Cho Gyu-il said, "We are grateful that a promising local company has decided to make a new investment," and added, "We will spare no administrative and financial support to make our region a global center for the bio-industry."

Amicogen operates its headquarters and business sites in Jinju Jinseong Agricultural Industrial Complex and the Bio-Industry Specialized Agricultural Industrial Complex, developing and manufacturing bio new materials such as pharmaceutical special enzymes and N-acetylglucosamine, supplying and selling them to domestic food companies, pharmaceutical companies, and cosmetics companies. It has secured export markets in more than 10 countries including China, Japan, and the United States, gaining a competitive edge in the global market.

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