DAEGU < invest Korea

According to Yonhap News,

(DAEGU = Yonhap News) The city of Daegu is set to vitalize the city’s slumped construction industry.

The city announced on March 15 that it held a meeting of the construction industry promotion committee and discussed measures for enhancing competitiveness and development of the region’s construction industry.

The committee, headed by the vice Mayor of administrative affairs, is comprised of 15 officials including representatives of construction association, experts and city officials.

In order to vitalize the construction industry, the committee plans to focus on expanding compulsory partnering contracts in the region, recommending construction companies in other regions to register as partnering companies, improving the number of subcontracts by regional businesses and encouraging companies to recruit local workers and use local resources and equipment.

Also, the city will increase the transparency of subcontracts and commence more than 80 percent of construction works in the region in the first half.

The city plans to constantly check on the degree of participation of local businesses in the construction works in a bid to increase the participation rate in subcontracts and actual usage rate of local manpower, equipment and resources by the local businesses.

“We will implement various measures to vitalize the city’s construction industry,” said an official of Daegu.

kimhj@yna.co.kr

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Source Text

Source: Yonhap News (Mar. 14, 2014)

** This article was translated from the Korean.