South Korea subsidiary of Japan-based Suteki Nice Group, The Nice Korea Corporation, has completed their new free cut timber processing factory in Busan-Jinhae Free Economic Zone, Republic of Korea (South Korea). The firm built the plant – also a logistics centre – in order to penetrate the domestic timber housing market and capitalise on the region’s strategic location to export products to the global market.
“We believed that Busan New Port would be an attractive investment so we have invested about 30 billion won (US$26.54 million) to establish a total logistics centre and free cut timber processing plant,” an official from The Nice Korea said to BusinessKorea. “We will use the new plant as a production base for timber, which is globally popular as an environmentally friendly construction material.”
“The Nice Korea is a very encouraging case that makes good use of Busan New Port’s strategic location, creates added value by importing materials from Europe and North America and processing them at the free cut timber processing plant, as well as establish global business models to supply products to the domestic market and export them overseas,” Busan-Jinhae Free Economic Zone Authority Commissioner, Jin Yang-hyun, said. “We expect that it can lead to the expansion of domestic timber houses using the eco-friendly construction material.”