GWANGJU < invest Korea

According to Yonhap News,

The Ministry of Trade, Industry and Energy (MOTIE) announced on April 10 that it will build a 'Social Economy Innovation Town' in Gwangju, starting from this year.

The Social Economy Innovation Town will serve as a basis for integration, supporting business establishment, technology development, prototype production, and construction of networking space, needed for the growth of social economy enterprises in the region.

Since 2019, innovation towns have been established in six regions across the country. In Gwangju, it will be built in Jeungheung-dong, Buk-gu, near Gwangju Station.

With the goal of construction completion in 2024, Gwangju Innovation Town will be built with a total investment of KRW 28 billion over the next 3 years. It will built on a site of 9,000 square meters, with four above-the-ground floors, having exhibition halls, sales centers, shared logistics warehouses, spaces for enterprises, enterprise support center, lecture halls, and auditorium, among others.

When Gwangju Innovation Town is completed, about 30 social economy enterprises can move in, and 1,340 social economy enterprises in Gwangju-si will receive support directly and indirectly. Also, it is expected to create about 300 new jobs and induce KRW 15 billion added-value.


lucid@yna.co.kr

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Source: Yonhap News (April 10, 2022)