World-renowned Solar Energy Corporation, Solar Power Korea, a subsidiary of Solar Power Corporation based in Los Angeles, and the City of Gwangju signed a deal to establish the Solar Research Institute and manufacturing here in Gwangju.
The planned research institute and plant will produce Copper-Indium-Galluim-Selenium for generating solar energy.
Currently visiting the United States, Gwangju Mayor Gang Woon-tae signed a contract for the construction of the manufacturing plant and its research institute. Solar Power Corp. will invest about 250 million dollars for the facilities that would be located in the Foreign Investment Zone in Gwangju by next April.
When completed, the new facilities are expected to boost the local economy and employ several thousand researchers and factory workers.