DAEGU < invest Korea

According to Yonhap News,

The Ministry of Knowledge Economy said on January 27th that it would provide KRW 220 billion to 10 projects in three main fields to help Daegu and Gyeongbuk-do (North Gyeongsang Province) secure future growth engines this year.

The Ministry said “we plan to expand our support for three fields of building foothold for the high-technology science industry, laying the foundation for the green growth industry, and improving the competitiveness of the convergence industry in a bid to nurture future growth engines of Daegu and Gyeongbuk,” at ‘a seminar for policies in 2011 and regional projects of Daegu and Gyeongbuk’ held at Daegu EXCO on January 27th.

High-tech medical complex, special zone for R&D, and Daegu Gyeongbuk free economic zones will enjoy the governmental support in the field of building foothold for the high-technology science industry. To lay the foundation for the green growth industry, radioactive waste disposal facilities will be built and Gyeongbuk atomic energy cluster and new and renewable energy will be nurtured.

Next generation mobile test bed will be constructed to strengthen the competitiveness of the convergence industry. Also, the robot, green auto parts, and convergence textile material industries will be supported.

The project for the global industrial hub will be newly initiated such as the provision of KRW 2 billion in laying the groundwork for the electronics medical instrument parts and materials industry and KRW 3 billion in developing high-tech medical textile materials to nurture the high-tech medical instrument industry and the IT convergence industry.

Quality of Working Life (QWL) Valley will proceed for Gumi Industrial Complex to inject KRW 350 billion for the three years in building a cluster and a production complex for components and materials.

At a meeting to discuss measures to vitalize the regional economy, Daegu and Gyeongbuk proposed the expansion of support for Daegu R&D special zone, construction of the robot industry cluster, and establishment of Daegu Gyeongbuk high-tech medical instrument support center.

Some participants said policies for balanced development to prevent the concentration of companies in the Seoul metropolitan area is urgent, and International Science Business Belt should be built in the Yeongnam region.

The 2nd Vice Minister of Knowledge Economy Park Yeong-jun said “I ask you to lead the future convergence industry by fully utilizing the experience of industrialization and the infrastructure for the electronics, machinery, and atomic energy industries,” at the meeting.

Source Text

Source: Yonhap News (Jan. 27, 2011)

**This is an English translation of a Korean news article.