Ssangbangwool and Namyoung Bibian Invest 30 Billion Won in Mask Manufacturing

[Asia Economy Reporter Yujin Cho] Ssangbangwool and Namyoung Vivian have signed a business agreement to manufacture masks and establish a distribution network, with a total investment of 30 billion KRW.

Namyoung Vivian (CEO Lee Gyuhwa) of Ssangbangwool Group and Ssangbangwool (CEO Kim Seho) announced that they have signed a business agreement with medical system manufacturer Nepsis to manufacture masks and build a distribution network.

The purpose is to solidify their position as a global mask brand through Nepsis's automated mask manufacturing equipment and Ssangbangwool Group's distribution network and brand value.

At the business agreement ceremony held on the 3rd at Namyoung Vivian headquarters, CEO Lee Gyuhwa said, "We expect that Ssangbangwool Group's mask business will be further activated with the advanced automated equipment supplied through the agreement with Nepsis."

Ssangbangwool and Namyoung Vivian previously signed a business agreement with Iksan City, Jeollabuk-do, and decided to invest 30 billion KRW in the national industrial complex in Iksan.

Namyoung Vivian plans to install 25 units of 3D and 2D mask equipment and 5 units of dental mask equipment at Ssangbangwool's factory in the Iksan national industrial complex, and start operations by the end of this month. The Iksan factory will produce 400 million masks annually.