CHUNGCHEONGBUK-DO < invest Korea

Chungbuk Free Economic Zone (CBFEZ) authority will attract advanced defense industry to invest in the Aeropolis near Cheongju International Airport.

As the plan to build Maintenance, Repair and Overhaul (MRO) district foundered, the authority turned its attention to defense industry.

CBFEZ authority held an investment seminar to host domestic and international advanced defense industry in the Zone on September 20 in Seoul.

The seminar was attended by diplomats related to defense industry, including Ersin Ercin, Turkish Ambassador to Korea, Grace Perky, the U.S. defense attaché to Korea, and 100 experts from the Boeing Company, Northrop Gruman, Raytheon, L3, Korean Air Lines and Hanwha.

They discussed on the development plan of domestic defense industry and the potential of Aeropolis to take a leap foward as an advanced defense cluster. A case from Turkey was introduced as an excellent example of cooperation in the defense industry.

The Aeropolis highlighed that since it is designated to as Free Economic Zone, foreign invested companies can have benefits including tax exemption.

"We were able to introduce excellent investment environment of Aeropolis district to the defense industry," said Lim Seong-bin, the Director General of CBFEZ autority, adding, "I will make efforts to lead this to actual investments."

yjc@newsis.com

Source Text

Source: Newsis (September 20, 2018)

** This article was translated from Korean.