DAEJEON < invest Korea

According to Yonhap News,

The city of Daejeon signed an MOU on Apr 12 with five promising locally based companies-Vitzro-Nextech, Bioneer, COXEM, Dandan Materials and Coconut Filter over partnership. The city and these five counterparts came to an agreement to make mutual investment in business office and production facility construction thereby creating quality jobs and developing local economy.

The funds raised by these investors are estimated to total at least KRW 46.9 billion and 272 new jobs are anticipated to be added.

Bioneer, developing molecular diagnostics technologies, and Coconutfilter, a water treatment company, have completed a property purchasing procedures to build up new manufacturing plants in Daedeok Innopolis, whereas the rest three are planning to move into Ansan High-tech Defense Industrial Complex.

Depending on the size of investments and employment scale, these investors are entitled to be given cash grants within the budget limit of up to KRW 10 billion under contracts all greed upon.

“They’re all technologically highly capable and have already proved their capacity to improve performance even in times of COVID-19- triggered crisis. To let them well settle in our community, we’ll spare no-efforts to give both financial and administrative support.” the city mayor said.

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Source:Yonhap News (Apr 12, 2021)