WND signs deal worth $50 million during overseas visit

A signing ceremony between Wuxi National Hi-tech District and LS Group is held on Jan 7. [Photo/WeChat account: xinwu_wx]

A business delegation of Wuxi National Hi-tech District visited LS Group, one of the top 10 South Korean enterprises, on the first day of its overseas investment promotion journey on Jan 7.

During the visit, LS Group agreed to expand the production and scale of electric injection molding machines at the company's Wuxi factory with an investment of more than $50 million.

The project, namely the second factory project of the LS Machinery Electric Injection Molding System, is expected to bring its operating income to over 1 billion yuan ($147.72 million) and tax payments to over 45 million yuan within three years after being put into operation.

WND organizes an eight-day business trip to South Korea and Japan to carry out investment promotion activities. [Photo/WeChat account: xinwu_wx]

During the business delegation's stay in South Korea, they will visit various multinational companies and industrial leaders such as SK Hynix, LG Chem, and LS Electric to promote communication and cooperation on new projects and further investment. A series of business promotions and signing ceremonies will be held as well.

WND organized the eight-day business trip to South Korea and Japan to carry out investment promotion activities, aiming to deepen cooperation with key multinational companies in the two countries in the industrial chain, value chain, and innovation chain, according to officials.