According to Yonhap News,

The Investment Promotion Team of Jeonnam-do (South Jeolla Province) signed a memorandum of understanding worth USD 30 million with Chairman Les Stuwart of Contender Boats, a marina and resort development and yacht assembly company, in New York on September 27th, the second day of their visit to the U.S.



According to the agreement, Contender Boats will invest in growing the yacht assembly and development businesses, developing marina ports, and operating related facilities in the Jeonnam region by utilizing its advanced technologies in the marina sector.



Governor Park said “the agreement will serve as an opportunity to forge a new cooperative relationship with Contender Boats of the U.S. to lay the foundation for an advanced maritime culture. To that end, the marine environment of Jeonnam with the best conditions for the marina industry will be fully utilized.”



The Jeonnam Investment Promotion Team also signed an MOU for investment with DPS, which possesses know-how in developing sports resorts and operating clubs, and American Super Conductor (AMSC), a new and renewable energy company. They agreed to aggressively cooperate in mutually interested areas.



An American marine company promised investment in Jeonnam

Governor Park Jun-yeong of Jeonnam signed an investment agreement worth USD 30 million with Chairman Les Stuwart of Contender Boats, a yacht assembly and marina and resort development company, in Park Lane Hotel New York in the afternoon of September 27th. CEO O Seong-hwan of Contender Boats Global, Governor Park Jun-yeong of Jeonnam, and Chairmant Les Stuwart of Contender Boats (from the left) pose for a photo after signing the investment agreement. Sept. 28, 2010.


Source Text



Source: Yonhap News (Sept. 28, 2010)



**This is an English translation of a Korean news article.