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Grupo Promax Becomes 1st Mexican Company to Set Up Factory in Gwangyang, South Korea
Mexican Envoy Bruno Figueroa Joins in Opening
Grupo Promax, one of the leading makers of steel, has become the first Mexican company that made direct investment in South Korea by setting up its factory in Gwangyang in South Jeolla Province.

Grupo Promax celebrated the opening its steel dust recycling plant, the first Mexican industrial investment in Korea, located in the Gwangyang Special Economic Zone (GFEZ) in Gwangyang, South Jeolla Province in South Korea on June 14, 2017.

Mexican Ambassador to Seoul Bruno Figueroa took part in the ceremony hosted by President Eduardo Alverde of Grupo Promax. He delivered a speech to the audience gathered at the ceremony.

The other key participants included Suncheon Mayor Cho Choong-Hoon and GFEZ Commissioner Kwon Oh-Bong.

Grupo Promax employees and local friends of Mexico were also among the people gathered at the ceremony of South Korea's first Mexican factory held at the tip of the Korean Peninsula.

Ambassador Figueroa stressed more than 50 years of bilateral relationships between Mexico and South Korea, mentioning the arrival of the Missionaries of Guadalupe in Korea half a century ago.

He pointed out that Grupo Promax's investment in South Korea offers strong testimony of the exponential strengthening of the bilateral relationship in the last decades.

He said the Mexican company's establishment of its factory in Gwangyang is actually Mexico's first direct investment in South Korea.

The Mexican envoy also said that the bilateral trade between Mexico and South Korea amounts to 17 billion US collars with over 1,800 South Korean companies invested in Mexico.

There are a number of Mexican restaurants and other types of Mexican businesses opening in South Korea including providers of children's entertainment services and duty-free sales.

Grupo Promax, one of the world's leading produces of steel, is expected to use its state-of-the-art technology to recycle dust from the steel smelting for its use in other industrial processes such as cement and fertilizer production.

The Mexican company is also expected to contribute to the protection of the environment and to the creation of Jobs in both South Korea and Mexico.






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