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Daegu City signed MOU with "Smart Wellness Regulation Free Special Zone" developers

According to Yonhap News,

(DAEGU=Yonhap News) Daegu City is to take a next step after the designation of Smart Wellness Regulation Free Special Zone.

On July 25, Daegu city plans to sign MOU with 14 developers at City Hall on July 26 for successful implementation of project upon the designation of Regulation Free Special Zone by the Ministry of SMEs and Startups (MSS).

By signing on the MOU, the city and developers confirmed their commitment to expansion of medical health industry and success of Regulation Free Special Zone projects.

Daegu City was given such designation on July 24 based on its technologies accumulated through previous research and infrastructure related with medical and health care and ICT convergence industry.

The Daegu Smart Wellness Regulation Free Special Zone designation covers the site of about 1,479 square meters in four districts including Innovative Medical District in which Daegu, Gyeongbuk High-Tech Medical Complex is located.

Four demonstration projects will be implemented which apply the cutting-edge science technology to the medical area including establishment of joint manufacturing center for high-tech medical equipment.

To that end, a total of KRW 73.2 billion project expense will be put into Special Zone, including national budget of KRW 42.9 billion and municipal budget of KRW 21.7 billion by 2022.

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Source Text

** This article was translated from Korean.

Source: Yonhap News (July 25, 2019)