DAEJEON < invest Korea

According to Newsis,

Daejeon-si said on June 13 that it was selected for the '2022 Defense Industry Innovation Cluster Project' hosted by the Defense Acquisition Program Administration (DPAP).

According to the city, it was selected as it scored high on concentration of R&D capabilities thanks to about 40 government-funded research institutes in Daedeok Innopolis, research centers of large defense-related companies, and KAIST.

The project is to build a cluster of the industries specialized in 5 national defense industries including the space, semiconductor, AI, drone, and robot to secure advanced technologies in preparation for advancement of weapon system.

Daejeon was given high scores for concentration of finished drone producers (30% of the nation) and designation as drone special regulatory free zone, composing excellent drone-related infrastructure.

As it was selected for the project, the city will receive the national budget of KRW 24.5 billion. The city will invest a total of KRW 49 billion to create the ecosystem for innovative growth of drone-specialized defense industry where various industry players participate based on the drone industry.

The city expects to see about KRW 200 billion in sales increase and 1,200 job creation by supporting about 100 SMEs in the defense industry over the next five years.

joemedia@newsis.com

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Source: Newsis (June 13, 2022)