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Hyundai, build industrial park in North

Posted July. 11, 2000 21:10,   

한국어

Hyundai Asan Co. The clinched an agreement with 45 local footgear makers based in Pusan. The agreement allows the local footgear markers to be housed in the Hyundai Group`s 400,000 pyong (1,320,000 sq. meters) of an exclusive industrial complex for shoes manufacturing, which will be built in North Korea`s western coast. Hyundai Asan Co. signed the agreement yesterday at its headquarter building. Hyundai Asan officials said that the agreement will allow for a close cooperation and an effective division of roles between conglomerates and small-and medium-sized enterprises as they together invest in the North Korean industrial park, setting an exemplary module for North Korean investment for other businesses. Hyundai plans to soon dispatch an on-site investigation team, to select an appropriate site for its mammoth industrial park by the end of this year.