CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

(CHEONGJU = Yonhap News) Chungcheongbuk-do announced today that it discovered 48 core projects related to the government’s three-year economic innovation plan.

However, the province did not announced the details about the projects to the public under the consideration of the competition with other cities and provinces and need for negotiations with relevant government authorities.

Chungbuk plans to propose 48 projects that are coordinated with the government’s tasks to the Ministry of Strategy and Finance on tomorrow.

The province will enact a law that ensures financial allotment principles, lower the tax reduction rate from 27 percent to 15, expand support for vulnerable social groups and establish self-governing bodies to protect residents.

It also develop bio, cosmetic, MRO, organic farming, new & renewable energy and power storage industries to realize a “dynamic innovative economy.”

Finally, the province will pursue balanced regional development, expand social overhead capital, develop tourist and cultural contents, revise the investment regulations and generate employment opportunities for university students, youth people and women.

A city official said that the province will continue to supplement the schemes until next month when the government decides its comprehensive plan for 2014.

ks@yna.co.kr

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (Jan. 22, 2014)

** This article was translated from the Korean.