Hansol Paper of South Korea Signs Investment Agreement for Paper Mill Expansion
en.Wedoany.com Reported - On October 14, South Korean paper manufacturer Hansol Paper signed an investment cooperation agreement with the Daejeon Metropolitan City government, planning to expand its existing paper mill in Daejeon and add mass-production equipment for new materials. The agreement also involves two companies, Axvis and Pami, with the three companies planning a combined investment of 73.45 billion won to build or expand manufacturing and R&D facilities locally, with an expected 104 new jobs created.
The expansion target for Hansol Paper is its existing Daejeon plant, where it plans to add mass-production facilities to expand its capacity for eco-friendly new materials. The company is developing new materials for cosmetics and secondary batteries based on sustainable material technologies such as nanocellulose. This investment agreement incorporates the expansion equipment configuration of the existing plant into the local manufacturing investment plan.
The signing ceremony was held at the Daejeon Metropolitan City government building, with Lee Kang-gun, head of Hansol Paper's Central Research Institute, attending on behalf of the company. Under the agreement, the Daejeon Metropolitan City government will provide administrative and financial support to the investing companies. The facility construction of the three companies involves the Daejeon Industrial Complex and Daedeok Industrial Complex in Daedeok District, as well as the Taplip-Jeonmin area in Yuseong District.
Under the same batch of agreements, Axvis plans to invest 43.3 billion won to build its headquarters and a new factory, and further expand production facilities; Pami plans to build new manufacturing and R&D facilities for electronic and semiconductor inspection equipment.
