JEOLLABUK-DO < invest Korea

According to Yonhap News,

(JEONJU=Yonhap News) Gains generated from North Jeolla's Innovation Cities will be spread across other municipalities where such city has not been established.

North Jeolla announced that it will raise KRW 3.5 billion by 2020 to provide the fund to projects of other cities and counties in the Province.

It is to share achievement of the Innovation City established between Jeonju City and Wanju County.

Over the past three years, provincial tax collected from public corporations in North Jeolla Innovation City amounted to KRW 85 billion while city and county tax totaled KRW 1 billion.

The Innovation City in North Jeolla is the largest in size among such cities in nation, and it is growing as a new town with population of 30,000 including 4,000 corporate employees as around 10 public agencies moved into the city.

ichong@yna.co.kr

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