DAEGU < invest Korea

According to Yonhap News,

(DAEGU=Yonhap News) A project to establish the National Water Industry Cluster in Daegu Metropolitan City is gaining momentum.

Daegu expects the city can take a leading position in the water industry through the project.

Since 2012, the city has been striving to establish a cluster for the water industry on the land of 649,079 square meters within the National Industrial Park in Dalsung County in cooperation with the Ministry of Environment.

Daegu has been pushing forward with the project in a bid to grow the size of the water market by nurturing related companies and research institutes and build foundation for overseas business expansion.

A total of KRW 351.9 billion will be injected through 2018 to set up a water industry promotion center, business center, and industrial complex.

Test-beds and demo plants to evaluate new technologies including wastewater recycling and low-carbon water treatment will be established as well.

Located near Nakdong River, Daegu is a ideal place for the development of the water industry thanks to its easy access to diverse water sources for tests and experiments.

The city is also close to distinguished academic and research institutes including Pohang University of Science and Technology and the Research Institute of Industrial Science & Technology.

A total of KRW 140 billion of investment has been pledged from 14 companies in the industry cluster.

"We will not spare any efforts to support small yet powerful companies moving into the cluster can grow into world-class businesses," Daegu Mayor Kwon Yeong-Jin said.

suho@yna.co.kr

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