FOR IMMEDIATE RELEASE
May 16, 2001

Lila White
www.thedigitaldominion.com
(804) 692-3110


Douglas L. Smith
City of Portsmouth
(757) 393-8804
Jill Lawrence
VEDP
(804) 371-0049
Governor Gilmore Announces Korean Company To Bring 170 New Jobs To Portsmouth
-Governor met with Hanmi International Corporation executives during 2000 Asia Trade Mission -


Richmond - Governor Jim Gilmore today announced that Hanmi International Corporation, headquartered in Seoul, Korea, will locate its new manufacturing site in the PortCentre Commerce Park in Portsmouth. Within five years, the facility will employ 170 new workers and invest a total of $12.5 million. Virginia successfully competed with Florida for this investment.
"I am pleased to announce that Hanmi is locating in Portsmouth," said Governor Gilmore. "My administration has worked hard to strengthen Virginia's international ties and we are very proud of our ever-growing relationship with Korea."

Hanmi International Corporation is a worldwide leader in the manufacturing and installation of anti-heat and rust-free ceramic coated vertical stacks and chimneys, ceramic hot water tanks, stainless steel spiral ducts, stacks for thermal power plants and incinerators, and fabricated stainless steel stacks. Hanmi also produces heavy-load vehicles. Its target markets for these vehicles are steel mills, shipyards, construction and rigging fields and transportation companies in North and South America.

"There is a large worldwide market for heavy and chemical industrial products in the southeastern region of the United States," said Hanmi International Corporation President Mr. Sung-Woo Lee. "In particular, the Commonwealth of Virginia is one of the largest markets for our products including heavy-load military tank carriers for the defense industry. Furthermore, we selected the city of Portsmouth because it has suitable marine terminals nearby and is the best location to ship our ceramic products and heavy-load vehicles worldwide."

"The Governor and I were glad to have had the opportunity to meet with Hanmi officials while on a mission to Korea last summer," said Secretary of Commerce and Trade Barry E. DuVal. "We are confident that the company will find the PortCentre Commerce Park an excellent place to do business."

The Virginia Economic Development Partnership, the Hampton Roads Economic Development Alliance and the City of Portsmouth assisted Hanmi International Corporation with its decision. The Virginia Department of Business Assistance will provide workforce training services and Hanmi will be eligible for further tax credits because they are locating in an enterprise zone.

"We are pleased that Hanmi International chose Portsmouth for their US headquarters. The company will be a great addition to our PortCentre Commerce Park," said Dr. James W. Holley III, Mayor of the City Portsmouth.






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