DAEJEON < invest Korea

According to Yonhap News,

A construction project to build up an industry cluster near Pyeongchon-dong, Seo-gu in Daejeon city until the year 2024 breaks ground in April. Daejeon city said on Feb 2 that a consortium formed between the project organizer, taking the role of orchestrator, Daejeon City Corporation (DCCO) and main constructor Doosan Heavy Industries and Construction have recently closed in on a deal agreed upon to launch the project for the establishment of a cluster on a 859,000㎡ site, which is set to accommodate businesses in 17 sectors such as equipment, electric parts, machines and manufacturing etc. The costs for the project are reported to total KRW264.9 billion.

Cash incentives provided for those moving into the new cluster increased up to KRW 10 billion from 6 billion for each enterprise. Enterprises planning to scale up, adding to their existing facilities in Daejeon city are also entitled to benefit from the grants. Another roadway construction project, worth KRW 41.1 billion, to give easier entering access to lanes onto busy freeways, three kilometers in length, near the cluster is now in progress.

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Source: Yonhap News (Feb 2, 2021)