South Korean battery separator firm Enerever Battery Solution said on Wednesday that it will build a new factory at Wanju, North Jeolla Province.
The firm and Wanju county signed an agreement for the factory on the same day.
Enerever will spend 127.6 billion won up to 2026 to build the factory on 32,730 meter-square of land at the second industrial park at Wanju.
The firm will hire 220 new employees for the factory.
Enerever will foster the new factory as its headquarters and later commence an IPO, it said.
Company CEO Shin Sang-ki said the firm decided to build the new factory in Wanju thanks to the county’s support for battery and hydrogen fuel-cell projects and excellent transportation infrastructure.