Dongcheonsu to Invest 40 Billion Won in Sangju General Industrial Complex for Carbonated and Mixed Beverage Factory Construction
Memorandum of Understanding Signed with Sangju-si, Gyeongbuk on the 11th
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Sangju City, Gyeongbuk Province, signed a memorandum of understanding for an investment worth a total of 40 billion KRW with Dongcheonsu at the Sangju City Hall main conference room at 2 p.m. on the 11th.
The event was attended by Park Cheol-ho, CEO of Dongcheonsu; Jung Jae-hoon, CEO of Dong-A Socio Holdings; Lee Cheol-woo, Governor of Gyeongbuk Province; Kang Young-seok, Mayor of Sangju City; and members of the Gyeongbuk Provincial Assembly and Sangju City Council.
By June 2023, Dongcheonsu plans to invest 40 billion KRW to build a carbonated and mixed beverage manufacturing plant on a 43,408㎡ (13,131 pyeong) site within the Heonsin-dong Sangju General Industrial Complex.
The company aims to expand its beverage market entry and increase OEM production for major beverage manufacturers by expanding production facilities, raising its current sales of 30 billion KRW to 100 billion KRW.
Additionally, the company plans to prioritize local firms for various permits, services, and civil engineering construction projects required for the factory construction, and to invigorate the local economy by newly hiring 71 employees, mainly local talent.
Park Cheol-ho, CEO of Dongcheonsu, said, “With the establishment of the new Sangju factory, we will diversify our business into the manufacturing of carbonated water and carbonated mixed beverages, where demand is expected to increase, and grow into an innovative company in the beverage manufacturing sector.”
He also stated, “We will put more effort into contributing to the local community with the profits generated.”
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Kang Young-seok, Mayor of Sangju City, said, “I am pleased that our multifaceted investment attraction efforts have borne fruit,” and added, “We will boldly implement administrative and financial support policies to ensure smooth project progress and continue to attract excellent companies.”
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