DAEGU < invest Korea

According to Yonhap News,

(DAEGU = Yonhap News) The city of Daegu is to invest a total of KRW 1.164 trillion this year to strengthen its science-technology capabilities.

The Daegu science & technology promotion committee announced on April 7 that it had passed an initiative to promote the city’s science and technology and submitted it to the National Science & Technology Council.

The council is scheduled to deliberate and approve the initiative in April.

Under the initiative, the city will invest KRW 384.2 billion from the government support, KRW 194.2 billion from the city budget and KRW 438 billion from the private investment in 152 business projects. It aims to develop the foundation for the development of the city’s science and technology, enhance the key industries including machinery and auto industries and develop the new growth engine industries such as robot and medical industries.

Also, it plans to focus on developing the research and development hub in the Yeongnam region, establishing academic-industrial cooperative technology support system, developing R&D infrastructure for the next-generation auto parts industry, expanding the high-value added textile and fashion industry and fostering the health and medical industry.

“We will enhance technological competitiveness and vitalize the local economy by implementing the promotion initiative that suits the regional characteristics.

kimhj@yna.co.kr

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Source Text

Source: Yonhap News (April. 7, 2014)

** This article was translated from the Korean.