The Republic of Korea’s Ace Technologies has been allowed to begin awireless equipment production project worth 60 million USD in thenorthern province of Ha Nam.

The provincial People’s Committee on May 18 granted an investment licence to the group.

Located in the Dong Van 2 industrial park on an plot of over 120,000square metres, the factory specialises in manufacturing wireless aerialsfor smart phones and radio frequency filters, with a capacity ofproducing 300,000 products per year.

The plant willstart production in nine months, and is expected to gross about 70million USD in revenue each year, pay 1 million USD in corporate incometax and generate jobs for nearly 500 workers.

President of Ace, Gwang Young Koo, revealed his ambition of turning thefactory into the third biggest earner of the group with annual revenueof 1 billion USD. The plant will serve as a place for technologytransfer and high-quality human resources training, he added.

Secretary of the provincial Party Committee Mai Tien Dung said theproject is expected to attract hi-tech, manufacturing and small-andmedium-sized enterprises.

Local authorities pledgedto facilitate business operation and hope more RoK firms will invest inthe province, he added.-VNA