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Daegu increases financial support for investment promotion
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According to Yonhap News,

Daegu City announced on January 19 that it would extend financial support for regional investment promotion to increase investment and job creation.

The city has decided to increase financial supports provided to investment companies that build a new factory or expand production facilities, from 7.1 billion KRW in 2011 to 12 billion KRW in 2012.

A SME that does business in the sector of the strategic, leading or specialized industry for more than three years, hires more than ten full-time employees, and records one billion KRW in new investments are candidate for financial supports.

Plus, the city is planning to utilize private organizations, such as investment promotion team and investment promotion advisory panel, to increase investment from promising companies in other regions including the Seoul Metropolitan Area.

Kim Yeon-chang, head of Economy Team at the Daegu Metropolitan City, said that "I expect that the extended financial support could trigger regional SMEs to increase investment for building a new factory or expanding production, which eventually offers them the opportunity to develop into international enterprises.     

Source Text

Source: Yonhap News (Jan. 19, 2012)

** This is an English translation of a Korean news article.