DAEGU < invest Korea

(DAEGU = Newsis) The city of Daegu announced on January 9 that it will invest a total of KRW 1.22 trillion in the field of science and technology to foster small and medium-sized enterprises (SMEs) and create jobs in a bid to pursue the Park administration’s creative economy.

Daegu decided its science and technology promotion initiative for 2014 during the meeting by the members of science and technology promotion committee on January 9.

The initiative aims to help Daegu become a city with the world-class knowledge-based industry, and invest a total of KRW 1.22 trillion in 155 different projects including the development of foundation of sustainable growth, enhance the competitiveness of the city’s key industries and creation of new growth engine such as robot, medical, ICT and green energy industries.

The city will also plans to focus on developing R&D hub and technological support system in Yeongnam area, establishing the research infrastructure of the future auto parts industry, developing the value-added fiber and fashion industry, developing of machinery, metal processing, robot, parts and materials and medical industries, supporting new industries such as SW, 3D, laser, ICT and green energy industries.

Detailed investment plans are as follows: ▲ KRW 40.2 billion in 30 projects related to the development of local infrastructure for R&D ▲ KRW 30.3 billion in 10 projects related to the development of local R&D management abilities ▲ KRW 57 billion in 13 projects related to enhancement of international cooperation and role allocation between local and central government ▲KRW 186 billion in 41 projects related to the improvements of local R&D investment and so on.

“Daegu will focus on the promotion of science and technology to pursue creative economy, discover the new industries and create jobs in a bid to vitalize the stagnant local economy,” said an official of Daegu.

nhy@newsis.com

Source Text

Source: Newsis (Jan. 9, 2014)

** This article was translated from the Korean.