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Busan city secured KRW 3.4 bln, used to invest in the future mobility and water-sports business
The city of Busan announced on Jun. 5 that the local authorities are entitled to be given subsidies as much as KRW 3.4 billion in total over the next three years as a couple of city government’s projects were chosen as part of national initiatives in an attempt to foster local business (non-R&D sector) in the year 2020, mainly sponsored by the SEMs ministry. The project the city handpicked are a biz-support program to form a better climate to produce auto-parts in preparation for the future mobility and to turn the city into a business hub of water leisure activities.
The former, forecast to cost nearly KRW 1.66 billion over the next three years, aims to further advance technology to rapidly adapt to the new business trends, improve manufacturing process and support marketing, through which form the future of mobility, creating jobs. The latter one will be financed as much as KRW 1.81 billion by Research Institute of Medium & Small Shipbuilding (RIMS) for three years. They’re set to help businesses engaged develop new products, design innovative models, form partnership for joint projects and stretch up markets home and abroad.
ccho@yna.co.kr
** This article was translated from Korean.
Date
2020.06.19
Views
472
According to Yonhap News,
The city of Busan announced on Jun. 5 that the local authorities are entitled to be given subsidies as much as KRW 3.4 billion in total over the next three years as a couple of city government’s projects were chosen as part of national initiatives in an attempt to foster local business (non-R&D sector) in the year 2020, mainly sponsored by the SEMs ministry. The project the city handpicked are a biz-support program to form a better climate to produce auto-parts in preparation for the future mobility and to turn the city into a business hub of water leisure activities.
The former, forecast to cost nearly KRW 1.66 billion over the next three years, aims to further advance technology to rapidly adapt to the new business trends, improve manufacturing process and support marketing, through which form the future of mobility, creating jobs. The latter one will be financed as much as KRW 1.81 billion by Research Institute of Medium & Small Shipbuilding (RIMS) for three years. They’re set to help businesses engaged develop new products, design innovative models, form partnership for joint projects and stretch up markets home and abroad.
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ccho@yna.co.kr
Source: Yonhap News (Jun. 5 , 2020)
** This article was translated from Korean.