DAEGU < invest Korea

Daegu has begun to promote local firms equipped with competitive technology.

The city recently launched an operation committee that supports 100 competitive projects for the development of the city and has decided to support business plans submitted by 34 local firms.

The operation committee reviews business plans submitted by companies equipped with competitive technology in their fields and provides support in the areas of R&D, product planning, and marketing. It focuses on assisting small- and medium-sized enterprises (SMEs) to join the ranks of the 300 world-class companies, and it aims to support 100 projects by 2015.

The business plans recently accepted were submitted by companies, mostly in the fields of machinery, automotive parts, textiles, fashion, medical equipment, mobile, glasses, and games. These companies reach KRW 10.4 billion in annual sales and have 60 members on average.

“The competitiveness, sales, and employment of local companies will dramatically increase if we promote 100 competitive projects intensively for the next three years,” said a council official.

Source: Yonhap News (Mar. 22, 2013)

** This article was translated from the Korean.