DAEGU < invest Korea

According to Yonhap News,

Seodaegu Knowledge Industry Center, established for recovery of aging industrial complex, will operate in earnest from next month.

Daegu-si announced on June 15 that the Knowledge Industry Center had bee constructed within Seodaegu Industrial Complex Revitalization Zone. SMEs and startups would start moving-in from next month.

It has been pushed for as part of a development project for revitalization zone of Seodaegu Industrial Complex Recovery, to be completed by 2024.

The revitalization zone development project has the intention of completely developing a certain area, which will then lead the advancement of entire businesses in the industrial complex. In doing so, it can act as a hub of industrial complex.

The construction of this Knowledge Industry Center-which commenced in June 2019- took about KRW 67.3 billion in total operation cost.

The project has been proceeded as REITs, with Daegu-si, Korea Housing & Urban Guarantee Corporation, and Korea Land & Housing Corporation co-funding KRW 20.2 billion, while National Housing Fund lending KRW 33 billion.

The Center has a total of 167 rooms: 90 offices, 49 manufacturing rooms, 16 support facility rooms, and 13 storage rooms.

Daejeon-si plans to support marketing, sales channel opening, and technologies tailored to tenant companies.

A city official said, "We will attract companies of the knowledge industry to the Center, making it a hub of innovation which injects vitality into aging Seodaegu Industrial Complex".

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Source:Yonhap News (June 15, 2021)