Korea will manufacture light diode lamps in Ufa

A Korean-Russian joint venture for production of light diode lamps will start working in Ufa soon and the corresponding agreement is signed by the Korean envoys and the representatives of the Ministry of economic development RB.

Koreans intend to invest several dozen million USD in this project and it is expected the plant will produce 80 million lamps every year. It will permit to open three thousand new workplaces in Ufa. The lamps will be used both in industry and in the sphere of housing and communal services.

The meeting of the President RB Rustem Khamitov with the governmental delegation of Republic of Korea, guided by the head of medium and small business agency under the Government of Korea M-r Kim Dong Sun has taken place on Monday in the Republic House.

Talking to journalists after the meeting M-r Kim Dong Sun has said the light diode industry is intensely developing in Korea now.

“Our country isn’t rich with natural resources and it forces us to work hard in IT sphere” - he said – “We’ve chosen Bashkiria for development of our new investment project in many respects thanks to that favorable geographic position, occupied by your Republic. Fr om here we intend to sell our light diode lamps all over Russia”.

The signed agreement is the first step to widening of the cooperation between Bashkiria and Korea. Till recently the economic relations between the Republic and this country were not developed much. In opinion of the President RB Rustem Khamitov we have many spheres wh ere we can work together. Cooperation in sphere of low-tonnage chemistry, oil chemistry, machine building and mining operations can also become very promising. Koreans are also interested in opening of new joint-ventures in these spheres.

According to the President RB the Republican leadership takes care of the Bashkiria’s image as the most attractive Russian region from the point of view of investments, so the investors from Korea may figure on the maximally favorable work conditions here.