DAEGU < invest Korea

According to Yonhap News,

(DAEGU=Yonhap News) A groundbreaking ceremony for the Korea Water Cluster, which will serve as Korea's strategic base for advancement into the global water market, was held in Daegu on November 10, 2016.

The ceremony was attended by around 500 guests including Daegu Mayor Kwon Young-jin, Environment Minister Chung Kyung-kyu, as well as business and academic leaders in water industry.

The water cluster will be built on the land of 649,079 square meters at the national industrial complex in Dalseong County by 2018 through investment of KRW 295 billion.

Water industry promotion facilities, business center, industrial complex, and water industry demonstration center which can test new water related technology will be established in the cluster.

The city plans to use the cluster as a business incubation center to nurture around 60 small companies in the water industry.

When fully operated, the cluster is expected to generate KRW 100 to 300 billion in production inducement effect and added-value inducement effect.

Daegu Mayor Kwon Young-jin said, "We will do our utmost to establish the water cluster so that Korea can stand strong as a global water industry powerhouse."

suho@yna.co.kr

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