According to Yonhap News,
A city-led project to form a community industry cluster with large capacity to handle sea foods to be processed or traded is reported to be nominated as part of feasibility study subjects led by the finance ministry. With a worth of KRW 128.5 billion investments, the city is set to establish a cluster-like zone,accommodating three main facilities –a large plant for product development, biz-support center and an export hub –on a 70,000㎡ site of Seo-gu, inside Busan city.
The city authorities are also planning to build up an agency responsible for boosting fishing industry, while running an industry-affiliate university finance sponsorship programs.
As part of marine cities in Korea, boasting industry capabilities to handle production, processing and distribution of sea foods, Busan city expects that the project allows them to pitch in R&D work and export. By forming a task force to be commissioned to substantiate whether the project is commercially viable, Busan city will join forces with the Ministry of Maritime Affairs and Fisheries to get the final approval from the authorities.
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Source: Yonhap News (Sep 1, 2020)
** This article was translated from Korean.