GWANGJU < invest Korea

(GWANGJU=Yonhap News) Gwangju Metropolitan City announced December 3 that it plans to invest a total of KRW 129.1 billion (KRW 58.8 billion in national funding, KRW 58.3 billion from the city budget) to nurture the local eco-friendly automotive industry as a new growth engine.

It is a 56 percent increase from the KRW 82.7 billion invested in 2017.

The city plans to use the investment to push forward with the Eco-friendly Auto Parts Cluster construction project, and support 19 local companies to develop related technologies.

To promote the autonomous and connected car industry, Gwangju will build a highly-reliable technology development system, and subsidize small and medium companies to support automotive electronic system makers such as LG Innotech.

Gwangu is also considering the construction of an Auto Services Industrial Complex near the cluster that produces cars and provides car tuning, recycling, and cultural services.



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Source: Yonhap News (Dec. 3, 2017)