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N. Chungcheong Prov. to launch feasibility assessment study to form Ochang Valley

According to Yonhap News,

A project to form an Ochang Valley, a Silicon Valley like geographic agglomeration of bio- high tech businesses, particularly connecting between Osong and Ochang in Cheongju city, Chungbuk Innovation City and other communities near Chungju city is now well underway. The provincial authority hosted a briefing session Nov 5 to launch a feasibility assessment study outsourced by a group of commissioned researchers at the presence of 20 city officials and industry specialists.

The province expects that the government’s recent decision to build the next-generation synchrotron radiation accelerator in the town of Ochang, alongside a series of other national development plans such as railway reconstruction project to make a direct rail link from Gangwon, Chungcheong to Honam or positive feedback from business feasibility assessment to form a national bio-health industry cluster, could bring the second chance to fuel an economic boom in the community.

The authorities are planning to seek for solutions to provide administrative support for commercial and public institutions, while building up research base to enhance R&D capability. The outsourced assessment comes to an end in June next year.

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Source: Yonhap News (Nov 5, 2020)

** This article was translated from Korean.