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Daegu Technopolis Completes Infra Constructions

According to Yonhap News,

(DAEGU = Yonhap News) Daegu’s Technopolis starts to show its aspect of multi-functional city.

Daegu Gyeongbuk Free Economic Zone Authority (DGFEZA) announced on 23 December that the infrastructure development project of Daegu Technopolis will be completed at the year’s end.

The city progresses smoothly the development plan of a city that harmonizes R&D and high tech industries with comfortable settlement environments.

With a total investment of KRW 1.74 trillion, the Technopolis will have a population of more than 50,000.

The sales rate of lots except the parcel for the foreign investment reached 98 percent.

The city attracts companies in automotive, machinery, mechatronics, electric and electronic, textile, IT and R&D industries.

A total of 80 companies have already signed sales contracts, and five companies including Hyundai IHL are already operating their plants. Twenty seven companies are currently building their plants in the site.

Seventeen blocs of 20 residential sites were sold, and nine of 14 constructions firms that received approval of housing business are currently undergoing the constructions of apartment complexes.

Five institutions including the Daegu Gyeongbuk Institute of Science & Technology, Korea Institute of Industrial Technology Daegu Division and Daegu National Science Museums moved into the research site.

The city of Daegu and DGFEZA plans to step up efforts to vitalize Technopolis.

Two parties will gather opinions and complaints from the companies and establish new public transportation systems. The connecting and access roads will be constructed in the near future.

The DGFEZA expects that commercial, financial and medical facilities will begin to move into the region as the residents start to move in and constructions of roads complete in the second half of 2014.

In 2015, it is expected that more than 100 companies will move into the city and start operating their plants.

“Daegu Technopolis is expected to play a role of platform for the development of Daegu’s economy by combining research infrastructure and technologies from the high-tech industries, and helps vitalizing the Daegu National Industrial Complex,” said Jeong Won-jae, an official of the DGFEZA.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (Dec. 23, 2013)

** This article was translated from the Korean.