JEJU-DO < invest Korea

Jeju provincial government announced on February 20 that it will push for "project to build infrastructure for smart specialization" as it was exempted for pre-feasibility study on January 29.

It is expected to support business expense in the range of KRW 6.5-14 billion for six years, starting from 2020, in four areas including clean and functional foods, smart water application, smart cosmmesceutical, reusable battery.

Based on the smart specialization strategy, the province plans to provide support with an aim to bolster innovative capabilities by such ways as: advancing and diversifying local industries; establishing platform; securing necessary equipment; providing technology support; and nurturing experts.

A government official said "this project will stimulate innovative activities of companies, building on innovation resources and capabilities of the region, contributing to improving the competitiveness of local industries and revitalizing regional economy."

kjm@newsis.com

Source Text

** This article was translated from Korean.

Source: Newsis (February 20, 2019)