Machine tool manufacturer DN Solutions announced on the 10th that it will invest approximately 240 billion won to establish a metropolitan advanced research and development center in Gyeonggi Province's Bucheon.
On the same day, DN Solutions signed an agreement with Bucheon City Hall for the relocation to the Daechang First City Advanced Industrial Complex (Daechang Complex) and made this announcement.
Attending the signing ceremony held at Bucheon City Hall in Wonmi District were Bucheon Mayor Jo Yong-ik and DN Solutions CEO Kim Won-jong, along with officials from both sides.
Through this agreement, DN Solutions is now able to construct an advanced research and development center on a site of 14,000 square meters (approximately 4,300 pyeong) in the Daechang Complex.
The selection of tenants for the Daechang Complex was finalized after DN Solutions' submitted business plan passed the final review by the Bucheon City review committee following the city's announcement last year.
DN Solutions noted that it is establishing the metropolitan advanced research and development center to secure local talent and actively respond to future demand for innovative technology development.
The advanced research and development center will closely link with DN Solutions' other technology research institutes, technical centers, and technological hubs both domestically and internationally, consolidating research and development capabilities and accelerating the development of innovative products.
The company is building technical research institutes and regional technical centers not only in Changwon, Gyeongnam, but also in Yantai, China, and Bielefeld, Germany. It plans to establish similar facilities in Bengaluru, India, as well as in Mexico and Shanghai, China.
CEO Kim Won-jong of DN Solutions said, "The Daechang Complex is emerging as the top advanced research and development cluster in the metropolitan area," adding, "The new advanced research and development center will reinforce the global research and development system we are establishing and lead innovation, becoming a core hub that solidifies DN Solutions' technology leadership."