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According to Yonhap News,
(GWANGJU=Yonhap News) Gwangju City announced February 8 that it will promote a project to develop ultra-light and ultra-stiff automobile parts, which will be the foundation for developing high performance vehicles.
The city will invest a total of KRW 30 billion by 2018 to develop core automobile parts and build research infrastructures.
The city will invest KRW 5 billion in 2015 to develop relevant technology by automobile parts companies, universities and automobile parts research institution.
The city plans to enhance the competitiveness of the parts industry, which will play a crucial role in developing its automobile industry.
"The investment will not only provide a foundation for sustainable growth of regional automobile parts companies, but also develop the regional economy and create more jobs," said a city official.
betty@yna.co.kr
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Source: Yonhap News (February 08, 2015)
** This article was translated from the Korean.