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Six high-tech companies to relocate to Daejeon with KRW 35 bn investment in 3 yrs

According to Yonhap News,

(DAEJEON=Yonhap News)On August 23, Daejeon signed an investment and support agreement with six out-of-city companies.

They are currently located in Seoul, South Gyeongsang, South Chungcheong, and plan to move to Singdong, Dungok district or Ansan High-Tech National Defense Industrial Complex with KRW 35 billion investment over the next 3 years.

The city explained that the companies have technologies emerging as the core of the fourth industrial revolution, such as fiber-optic manufacturing for 5G communication network, video recognition, aerospace, big data analysis, and lithium-ion battery test.

Daejeon expects the companies would generate 220 jobs.

The city is in the process of building additional industrial complex by 2026 to attract companies, and endeavoring to provide business-friendly environment including a rise in support ceiling for relocating companies to KRW 10 billion.

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Source Text

** This article was translated from Korean.

Source: Yonhap News (August 23, 2019)