Samyang Foods to build factory in China, establish local subsidiary (South Korea)

Samyang Foods, a major food company, has announced that it has established a local subsidiary, Samyang Foods (Zhejiang) Co., Ltd. (tentative name), in Jiaxing, Zhejiang Province, China, through Samyang Foods Singapore, in order to set up a factory in China.
Prior to this, the company established Samyang Foods Singapore in Singapore on December 16 in preparation for building a factory in China.
The company invested $50 million (USD) and acquired 100% of Sanyang Foods (Zhejiang).
The acquisition date for the stake will be December 31. A Samyang Foods representative said of the investment, "Samyang Foods Singapore will acquire the shares of Samyang Foods and others by investing $50.2 million (approximately 7,877,130,000 yen) in the company."
Of this, $50 million was invested to set up a factory in China."