DAEGU < invest Korea

According to Yonhap News,

Daegu-Gyeongbuk Free Economic Zone (DGFEZ) unveiled its ambitious plan to attract investment worth USD 130 million and 114 billion won from 8 foreign companies and 22 domestic companies, respectively, this year.

To this end, the DGFEZ authority will reflect investment possibilities and characteristics of each company in its investor Relations (IR) plan.

It will especially focus on Germany and Japan that tend to show strong interests in Daegu for investment attraction.

In addition, the authority will take advantage of the 22nd World Energy Congress 2013, Daegu Korea, scheduled to be held in October, and the Istanbul-Gyeongju World Culture Expo 2013, to be held in September, as an opportunity to organize IR events for overseas companies. It decided to dispatch investment attraction groups to the both international events in partnership with Daegu-si (City) and Gyeongsangbuk-do (Province), respectively.

It will also team up with world-renowned consulting companies and the Chamber of Commerce and Industry of foreign countries to find companies seeking to invest in Daegu.

For domestic companies, the authority plans to expand investment incentives, allow gradual development in DGFEZ and increase national supports for infrastructures.

"Since its foundation in 2008, DGFEZ has thus far enticed USD 200 million and 2.1 trillion won from foreign companies and domestic companies and research institutes, respectively," said Choi Byung-rok, commissioner of the DGFEZ authority. "We will maintain our efforts to boost the regional economy."

Source Text

Source: Yonhap News (Jan. 21, 2013)

** This is the translation of a Korean article.