Investment News
Signing of a Memorandum of Understanding with GM Daewoo for the Construction of an Automobile Proving Ground and R&D Facilities in Cheongna International City
- Date Created : 2004-12-30
- Number of Views : 7
On Thursday, December 30, 2004, Incheon Metropolitan City and the Incheon Free Economic Zone Authority (IFEZ) signed a memorandum of understanding with GM Daewoo for the construction of an automobile proving ground and research and development facilities in Cheongna International City. The signing was attended by Ahn Sang-soo, Mayor of Incheon Metropolitan City, and Rick Reiley, President of General Motors Daewoo. The project is planned for a site of approximately 145,000 pyeong. General Motors Daewoo plans to invest approximately KRW 100 billion to develop, in phases, test tracks and research facilities for evaluating driving performance, noise and vibration, safety, and convenience.
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