CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

(CHEONGJU=Yonhap News) Chungbuk-do will invest a KRW 3.43 trillion in the climate and environment industry over the next 10 years.

On January 7, Chungbuk-do announced 51 projects in 4 areas of the climate and environment industry it would facilitate by 2028, which would lay the foundations for the Province's economic growth and lead the environmental-friendly economy capable of sustainable development.

The investment fund for each field are KRW 96.5 billion for advancing meteorological science, KRW 2.1493 trillion for fostering promising environment industry, KRW 142.1 billion for building an advanced resource recycling and KRW 205.1 billion for establishment of an eco-friendly environment.

By percentage, the government fund amounts to 28 percent (KRW 952.8 billion, local expenses 9 percent (KRW 306 billion), and money from companies and other sources amount to 63 percent (KRW 2.1442 trillion).

Major projects include the expansion of hydrogen-fueled power generation facilities, the creation of eco-friendly energy towns and livestock manure energization projects, the attraction of the central air environment authority and the establishment of forest biotechnology innovation valley.

The production inducement effect is estimated at KRW 3.9851 trillion, and the added value inducement effect is estimated at KRW 1.3019 trillion; the employment inducement effect is 17,328.

The Province will fully use its power to find new businesses and secure the government fund through the establishment of the climate & environment industry governance.

ks@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (January 7, 2019)