BUSAN < invest Korea

Busan city and the Busan Technopark announced today that Busan was selected as a recipient for the Ministry of Trade, Industry and Energy’s smart grid supply support project this year.

The project is promoted before the Korean government’s smart grid expansion project, to establish smart grid-based facilities.

The smart grid refers to a next generation electrical network which enables electricity suppliers and consumers exchange real-time information by applying information technology to power grids.

Busan will promote the smart grid supply support project by receiving total fund of KRW 4.2 billion to invest KRW 300 million, KRW 1.2 billion and KRW 2.7 billion in the Dongrae Market, Busan Industrial Goods Center and Silla University, respectively.

Busan, Daegu and Jeju were selected for the smart grid supply support project.

Busan also expect to be selected for the smart grid expansion project with the opportunity.

Source: Yonhap News (Aug. 7, 2013)

** This article was translated from the Korean.