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Korean Companies Plan to Invest EUR 500 M in Bulgaria
KOREAN COMPANIES PLAN TO INVEST EUR 500 M IN BULGARIA
Date: 13/12/2010
Source: novinite.com
Korean Companies Plan to Invest EUR 500 M in Bulgaria

Representatives of major companies from South Korea have informed Bulgarian Prime Minister Boyko Borisov of their large-scale investment plans for the country at a meeting on Monday.

The Korean Development Bank, Korea South-East Power Co., Korea Trade Insurance Corporation, and SDN Company Ltd have presented to Borisov the project for the construction of a photovoltaic park near the village of Zlataritsa close to Veliko Tarnovo.

The facility will feature a power distribution and a 4.7-km power line of its own, and the Korean companies will invest a total of EUR 150 M in it. EUR 20 M have already been invested in the solar power plant since August 2010 when the construction of the facility started.

The Korean companies present at the meeting have told Borisov that they planned to invest about EUR 500 M in Bulgaria in the next few years in various projects.

South Korean Ambassador to Bulgaria, Chun Bi-ho, and Bulgaria's Deputy Economy Minister Marii Kosev also attended the meeting, during which the largest South Korean corporate investor in Bulgaria – solar power firm SDN Company Ltd – made a donation of BGN 1 M to the Bulgarian government.

Gi Hyeok Choi, President and CEO of SDN Company Ltd, presented Monday a BGN 1 M check to Bulgarian Prime Minister Boyko Borisov as part of the company's corporate social responsibility program.

The donation will be presented to the Bulgarian Ministry of Economy, Energy, and Tourism, whose experts will determine together with representatives of the Korean company how best to spend the money.

SDN Company Ltd is a leading South Korean investor in photovoltaic installations and solar power plants, says the press service of the Bulgarian Cabinet.


Topic: Business



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