GWANGJU < invest Korea

According to Yonhap News,

An approval of the revised version of ‘Special Act on Balanced National Development’ that entails the validity of the legislation for the government support appears to help the city of Gwangju speed up the process to form relevant infrastructure to well facilitate the new system. The revision indicates the legal ground for the so called Gwangju Model, the authority led initiative to create synergy between labor and management locally.

The government can directly finance or give corporate loan services to enterprises, institutes and public-private bodies, once they review and approve an application form from the municipal leaders who wish to run the project locally. Easing down the requirements to make a contract for the state-owned land use is also welcoming news to those involved in.

The city of Gwangju have been working hard to well facilitate workplace wellbeing for employees, getting fully ready to have a large car production line in the community, a key to the Gwangju Model 2021.

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Source:Yonhap News (Jan. 10, 2020)