DAEGU < invest Korea

According to Yonhap News,

The construction of Gyeongsang Knowledge Industrial Complex in Daegu-Gyeongbuk Free Economic Zone (DGFEZ) will be accelerated.

The DGFEZ Authority selected Gyeongsan Knowledge Industrial Development, a SPC jointly invested by Daewoo Construction and Gyeongbuk Development Corporation, as the final developer of the industrial complex.

In order to develop the complex into the worldwide one as soon as possible, the DGFEZ Authority has made various efforts such as signing an MOU with Daewoo Construction last May and organizing a seminar to promote the complex to local residents in February.

The knowledge industrial complex will be built in Gyeongsan.

The DGFEZ planned to establish a 6.27 million square-meter industrial complex at an initial stage of the plan, but later decided to reduce the complex size to 3.9 million square meters with the investment of 988.4 billion won.

It will try to reach an agreement with local residents and related officials in the modification of the initial plan, get an approval for the modification from the Ministry of Knowledge Economy to start construction.

The DGFEZ plans to attract businesses from construction machinery, eco-friendly parts and materials, education and research and cutting-edge medical sectors.

"We will closely cooperate with local residents and related officials to accelerate the construction of the complex. We will classify the industrial complex into the eco-friendly specialized district, international education and exchange district and eco-friendly service district," said Choi Byeong-rok, chief of the DGFEZ Authority.                                       

Source Text

Source: Yonhap News (Mar. 2, 2012)

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