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Daejeon city to form a national industry cluster for the purpose of commercial applications of research work

According to Yonhap News,

A new national industry cluster, for the purpose of studying commercial validity of Innopolis’ reseach work, is set to be formed near Youseong-gu, Daejeon city.
The city said on Jun. 16 that the municipal’s proposal to accommodate the local business cluster was recently approved by the security ministry.

Accordingly, the city government appears to spend as much as KRW 510 billion for the plan to have a business complex that sprawls across a 939,000㎡ site.
Going through a several administrative steps such as city committee’s voting process in the second half of this year, Daejeon city will pass the bill for the construction plan until 2023, while easing zonal restrictions on site. They’ll break ground in 2024, after compensating for compulsory acquisition of private property taken for public use to landowners, and put an end to the entire process by the end of 2026.

Source Text

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Source: Yonhap News (Jun. 16 , 2020)

** This article was translated from Korean.