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Daegu Attracts Private Investment in Clean Energy

(DAEGU=NEWSIS) Daegu City announced March 20 that the project to create a clean energy city will be accelerated due to the revision of relevant laws.

The amendment of the Act on Special Measures for Designation and Management of Development Restriction Zones will be pre-announced as a Presidential order.

The city will attract private capital in the regions with eased regulations and create an eco-friendly energy ecological park.

The clean energy project, which is the city’s major project, is gaining momentum as it has been selected as one of the government projects.

The city signed a memorandum of understanding with the Korea Electric Power Corporation (KEPCO) last August to promote the project to establish a clean energy city.

The city plans to distribute the new and renewable energy and create an energy self-sufficient city.

The city and KEPCO agreed to establish a fuel cell (600㎿) and photovoltaics (7㎿) complex by 2020. It has also secured a 20,000 ㎡ of land near the technopolis.

"The clean energy sector will become the leading industry in the future. We have strived to build the foundation for the relevant industries. We hope to generate tangible results," said a city official.

Source Text

Source: Newsis (March 20, 2015)

** This article was translated from the Korean.