LAKE CHARLES - The South Korea based Dongsung FineTec Co. Ltd. Says it will create 250 new jobs and make a $5 million capital investment in a cryogenic insulation manufacturing facility in Lake Charles.

Senior Vice President James Choi said in a news release the jobs will have an average annual salary of $40,000, plus benefits.

The company will lease an 11-acre site at the Port of Lake Charles' Industrial Park East for its manufacturing complex. The site includes the former Spartech plastics compounding plant. The 59,000-square-foot building will be renovated for specialized insulation production. 

The company provides specialized high-performance insulation to liquefied natural gas plants and other industrial sites around the world.