CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

Chungbuk-do announced on December 24 that it was selected as excellent institution in the evaluation of the Ministry of Trade, Industry and Energy (MOTIE) in '2021 excellent local governments in investment attraction' for local governments.

It is the second time that Chungbuk-do was selected as an excellent local government in investment attraction. The first time was in 2018.

The MOTIE comprehensively evaluated: the efforts of local governments to attract investment; how supported companies have been managed; and satisfaction of investing companies.

This year, Chungbuk-do carried out investment attraction activities with the goal of attracting KRW 10 trillion investment.

As of December, 645 companies invested KRW 13.5182 trillion.

Once they implement investment and start operating factories, 27,586 jobs will be created.

For companies relocating from overly crowded controlled capital area to other provinces, or companies newly building or expanding factories in the provincial regions, the MOTIE provides 45-75% of investment promotion subsidy after dividing into a proximity to capital area, general area, and preferential support area,

If selected as an excellent local government in investment attraction, the ratio goes up by 5%.

jcpark@yna.co.kr

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Source: Yonhap News (December 24, 2021)