DAEGU < invest Korea

According to Yonhap News,

On July 17, Daegu-si announced that it has secured KRW 10 billion in state funds, after selected for "Mobility Motor Innovation Technology Development Project" by the Ministry of Trade, Industry and Energy (MOTIE).

It is a project that helps local small and medium-sized auto parts makers to make transition to major future mobility parts producers.

This project is also connected with Daegu's another project of fostering next-generation motor production base.

Daegu-si and MOTIE will invest KRW 19.1 billion in total including KRW 10 billion in state fundes over the five years starting from this year to build a mobility motor innovation growth support cetner in the Daegu National Industrial Complex. It will support prototype production and design verification of local companies.

The project is led by the Korea Automotive Technology Institute (Katech).

An official from Daegu-si said, "we will establish Daegu as a global motor production base by building the supply chain across the whole motor industry."

tjdan@yna.co.kr

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Source: Yonhap News (July 17, 2024)