DAEJEON < invest Korea

According to Newsis,

Daejeon-si announced on May 10 that it was selected for the '2023 Regional Industrial Base Support Project' hosted by by the Ministry of Trade, Industry and Energy (MOTIE), securing KRW 4.8 billion of government funds.

The project is focused on building the equipment related to the space industry and support for companies in order to lay the foundation for nurturing the space industry and take the lead in the new space era.

The city will build a technology support platform that would enable joint usage of R&D infrastructure in the space industry from 2023 to 2025.

In addition, it would facilitate the establishment of: equipment including satellite RF parts and system performance measurement, thermal vacuum tester, and vibration tester for the development and testing and evaluation of parts and devices of the space industry; and diverse company support system including acquisition of patents and certifications, marketing support, and management consulting for commercialization.

With the project, the city expects to achieve equipment operating rate of 50% or more, sales growth of more than 5% per year by supported companies, and creation of new jobs.

joemedia@newsis.com

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Source: Newsis (May 10, 2022)