Jotun invests in Korea

Norwegian marine coating producer Jotun has agreed to invest $29 million to establish a factory in the Busan-Jinhae Free Economic Zone in South Korea. A joint venture between Jotun A/S and Chokwang Paints Co. will build a plant to produce coating materials used in shipbuilding and maintenance within the FEZ’s Jisa Foreign Investment Zone. Chokwang Jotun has supplied products to Korean shipbuilders including STX Shipbuilding, Hanjin Heavy Industry, Hyundai Heavy Industries and Shina Shipbuilding.