SEOUL. May 22. VOSTOK MEDIA – Russian company Doninvest signed memorandum about investment with asdministrations of the province Chunchon-Namdo and city Porena which are planed the construction of a new automobile factory on their territory. This will be a factory which will buy spare parts from Korean suppliers and then to turn out machine sets for producing automobiles Hyundai in Russia.
The site of the newspaper Seoul messenger reports that the memorandum was signed during the visit of the governor of the province Chunchon-Namdo Li Van Gu in Rostov Oblast where he visited Taganrog automobile factory where automobiles Hyundai such as Accent, Sonata, Santa Fe, Elantra, Porter, Tager and Road Partner were produced.
Russian investments in automobile factory building are $650 million. This are the largest Russian investments in South Korea economics.
The building of the automobile factory in the province Chunchon-Namdo will attract new employees.