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South Chungcheong Prov. to inject as much as KRW 3.7 trn to attract biz to work within the community

According to Yonhap News,

South Chungcheong Province announced on Jan. 14 that roughly 749 enterprises have come and newly built up production facilities into the community. The amount of investment made last year totaled KRW 3.73 trillion and 14,494 new jobs have been created. (Cheonan 261, Asan 138, Dangjin 84, Seosan 59, Keumsan 57) Industry specifically, 200 metal engineering businesses, 104 food and beverage, electronics 89 and 50 auto parts companies have established factories.

The local authority grants cash incentives – covering 40 percent of land purchase fee and up to 24 percent of new facilities- especially to those who move into the province. Plus, KRW 105 million per person and up to KRW 10 million per household will be provided for each employee who belong to businesses to move from Seoul to the province.

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Source: Yonhap News (Jan. 14, 2020)

*This article was translated from Korean.

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