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THE INVESTOR]
Kyung Dong Navien is building a boiler and water heater factory in Beijing, it announced on Sept. 23.
The boiler company is investing 13 billion won (US$11.76 million) for an automated facility that can manufacture up to 300,000 units a year by 2017, and will expand and complete the plant with a capacity for 500,000 by 2020.
It was the first South Korean boiler maker to enter China in 1993. The leading energy company made 48 percent of its 512 billion won annual sales in overseas markets in 2015.
By Hwang You-mee (
glamazon@heraldcorp.com)
