Asahi Glass to invest USD 300 million at Korean plant

Japan“s Asahi Glass Company Ltd. is planning to significantly expand its investment in 2008 into its plant in Gumi city, northern Kyungsang province, in South Korea.
The Gumi city investment promoti…

Japan“s Asahi Glass Company Ltd. is planning to significantly expand its investment in 2008 into its plant in Gumi city, northern Kyungsang province, in South Korea. The Gumi city investment promotion team, which hosted a presentation on the investment environment in Japan from 23 to 25 September 2008, announced on 30 September that it had been informed of an additional investment plan by Asahi Glass Display Company president Nimishi Yugi during its visit to Asahi Glass headquarters. An official from Gumi city said: “While President Nimishi had decided to invest USD 150 million into its plant in Gumi by signing an investment memorandum of understanding (MOU) in April 2007, he conveyed that an equivalent amount of investment is planned for this year. Once the additional investment has been carried out, a total of USD 300 million will have been invested into the factory in Gumi by Asahi Glass this year”. LCD glass manufacturer Asahi Glass Fine Tech Korea (AFK) has been in operation at the Gumi National Industrial Complex 4 since November 2005.