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(GWANGJU=Newsis News) On November 29, Gwangju City Council passed an ordinance bill submitted by municipal assembly member Kim Min-jong (People's Party, Gwangsan 4) to raise the minimum amount of investment attracted to the city the need prior approval to be eligible for special support from the previous KRW 5 billion to KRW 30 billion.
The new ordinance will make it easier for the city to carry out investment promotion activities with greater speed and strategic competence.
Assembly member Kim noted, "as the recent amendment has secured greater flexibility, speed and negotiating power in the city's efforts to attract large-scale investments, which will hopefully reinvigorate such efforts and lead to actual results."
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Source: Newsis News (Nov. 29, 2017)