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Cheonan Receives Government Support

The fifth general industrial complex of Cheonan has been designated a project to attract advanced parts and materials companies at a foreign investment promotion contest sponsored by the Ministry of Trade, Industry & Energy and organized by the Korea Trade-Investment Promotion Agency (KOTRA).

Nine public organizations, including the Cheonan City Government and the Busan-Jinhae Free Economic Zone Authority, were awarded projects at the contest.

Selected for the project, Cheonan will now receive KRW 100 million from the government. The city is constructing 336,208㎡ of land in the fifth general industrial complex with an investment of KRW 83.4 billion, with the goal of completing it by the end of June. The city’s plan to invigorate the complex by attracting foreign investment is expected to gain momentum from the recent designation.

Source Text

Source: Newsis (Apr. 18, 2013)

** This article was translated from the Korean.