GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) Gwangju City's project to build a new energy industrial complex gained speed on June 5, after the enforcement of the special act regarding the designation and development of the energy industrial convergence complex.

The enforcement decree for the designation and development of the energy convergence industrial complex goes into effect on June 13.

The new energy convergence industrial complex is a cluster that provides a platform for cooperation, cost saving and technological innovation for companies, organizations and research institutions in the energy and related industries.

The city worked for the establishment of the special act for the last 3 years in preparation for the "energy valley development," linked to the new energy industry as well as the presidential pledge of "developing a mecca city for the new energy industry."

Once designated as an energy convergence industrial complex, the region receives developmental support for energy-related facilities, special energy company designations and support, designations as specialized research and human resource training institutions and more from the government.

The government will also help establish a research center, startup and export support center, testing and evaluation agency and technical training center.

Moreover, companies specialized in areas designated by the complex will be designated as an energy specialized company and receive local tax reduction, R&D support and priority purchase opportunities of public goods.

Related universities, research institutions and organizations will be designated as professional human resource training institutes and the government will cover their R&D and training costs.

kjsun@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (June 05, 2018)