US Firms Make Investment Commitment Totaling $380Mln

Write : 2013-05-07 17:20:42 Update : 2013-05-07 18:58:01

US Firms Make Investment Commitment Totaling $380Mln

The Ministry of Trade, Industry and Energy said on Tuesday that seven American companies have pledged investment in South Korea totaling 380 million U.S. dollars.

The investment commitment was made in a ceremony in New York attended by Industry Minister Yoon Sang-jick, who is accompanying President Park Geun-hye during her trip to the U.S.

Boeing promised to build an aircraft maintenance center in Yeongcheon, North Gyeongsang Province, while Curtiss-Wright Corporation made an investment commitment to build a production facility to manufacture valves for nuclear reactors.

The minister said that the investment commitment is meaningful as it shows foreign investors’ trust of the South Korean economy despite security concerns on the Korean Peninsula.

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