Investment Agreement Signed with Jeollabuk-do and Wanju-gun
Factory Expansion Planned by 2025 According to Market Conditions
Ahn Hongsang, CEO of Iljin Highsolus (fourth from the left), Song Ha-jin, Governor of Jeollabuk-do (fifth from the left), and Park Seong-il, Mayor of Wanju-gun (third from the left), are taking a commemorative photo after the investment agreement (MOU).
[Asia Economy Reporter Kim Cheol-hyun] Iljin High Solus (CEO An Hong-sang) announced on the 23rd that it has signed an investment agreement (MOU) with Jeollabuk-do Province (Governor Song Ha-jin) and Wanju County (County Head Park Seong-il) to establish a research center and manufacturing plant.
Iljin High Solus plans to invest 12.6 billion KRW this year to build a hydrogen fuel storage solution research center in the 2nd Industrial Complex of Wanju Technovalley, Jeollabuk-do. In line with the growth of the hydrogen mobility industry, it also plans to gradually expand the manufacturing plant through additional investments by 2025.
Iljin High Solus will conduct research and development on cutting-edge products related to hydrogen mobility at the research center. Jeollabuk-do and Wanju County have agreed to actively cooperate in administrative support and permits to ensure the smooth progress of Iljin High Solus's investment.
An Hong-sang, CEO of Iljin High Solus, said, "This agreement has provided an opportunity to solidify our position as a leading company in the eco-friendly hydrogen fuel storage solution sector," adding, "We will take the lead in revitalizing the hydrogen economy by commercializing various transportation products based on hydrogen fuel."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
