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Government Budget of KRW 2.9 TN to Be Invested in Daegu

Daegu City announced yesterday that it will receive KRW 2.6331 trillion from the government budget next year.

In addition, it will be also provided with KRW 300 billion required to complete construction of the innovative city.

Key projects reflected in the government budget are water industry corporate network development (KRW 300 million) and the 2015 World Water Forum infrastructure reinforcement (KRW 3.5 billion).

Development of water industry cluster is a large-scale national project which KRW 320 billion will be invested by 2017 to advance Korea’s water industry and penetrate overseas markets.

Advanced medical industrial complex (KRW 19.2 billion), a national heart center (KRW 200 million), an advanced medical equipment development support center and research and development by a new medicine development support center (KRW 5 billion) are also included.

Establishment of a robot industry cluster (KRW 18.6 billion), development of the Korea Institute for Robot Industry Advancement (KRW 8 billion), and a software convergence technology enhancement project (KRW 12.4 billion) are also some examples.

Daegu mayor Kim Bum-il noted the city will endeavor to receive more governmental investment when the National Assembly reviews budget for its projects.

Source Text

Source: Yonhap News (Sep. 26, 2013)

** This article was translated from the Korean.