DAEGU < invest Korea

According to Yonhap News,

With the well-established industrial groundwork including the High-Tech Medical Cluster, Technopolis and national industrial complex, Daegu-si (City) will ramp up its efforts to lure large-sized companies.

It will suggest the designation of the national industrial complex in Dalseong-gun (District) as a foreign investment zone this year and supply industrial sites to regional companies in the second half of this year.

In addition, a total of 12 billion won will be injected into supporting the establishment of a new factory or expansion of existing one, which will result in strengthening the competitiveness of regional companies home and abroad.

The city declared 2011 as the year of attracting large companies in a bid to expand investment attraction groups and appointing professionals as advisory panels.

The efforts enabled Daegu to record 1 trillion won in investment attraction in 2011 for the first time. The achievement continued with enticing investment from SMEC and Hyundai Cummins Engine Company in the following year.

"Despite several unfavorable conditions including the prolonged global economic downturn, Daegu located far from the Seoul Metropolitan area and the relatively high price of industrial sites, we will roll up our sleeves to offer administrative services tailored to the needs of individual investors," said Bum-Il Kim, Mayor of Daegu-si.

Source Text

Source: Yonhap News (Feb. 11, 2013)

** This is the translation of a Korean article.