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South Korea's LS Cable & System will invest $262 million to build a rare earth magnet factory in Gumi.
South Korea's LS Cable will invest $262 million to build a rare-earth magnet factory in Gumi to support its defense, robotics, and electric vehicle supply chains. The company said on Thursday that its subsidiary, Korea Motion Works, has signed a memorandum of understanding with Gyeongsangbuk-do Province and Gumi City to build the factory.
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