[Provided by Yeongcheon City]
[Provided by Yeongcheon City]

Yeongcheon City in North Gyeongsang Province signed investment memorandums of understanding Tuesday with DS Press Co. and agricultural food company Shimbak Co. for investment in the Yeongcheon Geumho General Industrial Complex.

Yeongcheon Mayor Kim Byeong-sam attended the signing ceremony at the city hall video conference room, along with DS Press CEO Shim Gyeong-seop, Shimbak CEO Park Moon-su and other company officials.

Under the agreements, the two companies plan to invest a combined 5.2 billion won ($3.67 million) in the Yeongcheon Geumho General Industrial Complex to expand their production facilities and create 34 new jobs.

DS Press, headquartered in Geumho-eup, Yeongcheon, specializes in precision metal processing and manufactures specialty steel and industrial machinery components used in nuclear power plants, shipbuilding, defense and aerospace.

The company plans to expand its production equipment and strengthen its precision machining capabilities, building a firmer foundation for future growth.

Shimbak is an agricultural food company specializing in the research, development and manufacturing of functional foods made from locally grown produce.

The company develops and produces a range of processed foods — including protein kombucha, enzymes, shakes and jellies — using regional agricultural specialties such as Yeongcheon Shine Muscat grapes, and is expanding into domestic and overseas markets.

"We will actively support companies that have grown in this region as they reinvest to prepare for the future, so that the concentration and vitality of the industrial complex can create a virtuous cycle for the local economy," Mayor Kim said.


kbj7653@heraldcorp.com