DAEGU < invest Korea

Daegu held a meeting to grow the water industry Monday and decided to promote administrative and financial policies to attract water companies and foster water industries in the region.

As a water industry cluster development project in the Daegu National Industrial Park is gaining a momentum, the city decided to launch a committee on fostering the water industry.

The committee will attract outstanding water industries overseas, foster promising regional companies and develop policies to grow water industry.

At the Monday’s meeting, Daegu decided to enact a regulation to attract water companies and foster water industry and launch an advisory committee on nurturing the industry in early June, which consists of water experts from academics and industries.

The committee will also strengthen the administrative functions by increasing the human resources. A team dedicated to water industry will also be created to accelerate attracting companies and promoting the project.

Daegu city and the Ministry of Environment plan to make an investment of KRW 250 billion by 2017 to establish a water industry cluster which will include an institute for water industry advancement to make Daegu as a national water hub.

The President also attended the groundbreaking ceremony of the industrial park last June.

An official noted that the city will hold the successful 7th World Water Forum in 2015 to enhance the global prestige. He added the water industry cluster will help the creative economy and make Daegu a water industry hub contributing to the regional economy.

Source: Newsis (June 24, 2013)

** This article was translated from the Korean.