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Daejeon city & local businesses signed an MOU for FDI attraction

According to Yonhap News,

On Dec. 4, four promising enterprises and the city of Daejeon signed a memorandum of understanding for the investment promotion, worth USD 5.84 million.

These four companies agreed to make investment inside International Science Business Belt in the form of joint venture by the year 2024. They’ve already attracted USD 1.3 million from Japan, USD 3.24 million from China and USD 1.3 million from Thailand, reportedly for this project. The city pays close attention to the VC plan which is expected to bolster local economy, while creating over a hundred jobs locally.

Prior to the project, four advisory consultant were commissioned by the city government, gear up for the FDI attraction since last year.

Source Text

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Source: Yonhap News (Dec 2, 2019)

*This article was translated from Korean.