GANGWON-DO < invest Korea

The Ministry of Trade, Industry and Energy (MOTIE) announced last Thursday that it will support key industries to activate Gangwon economy and strengthen its competitiveness at a policy forum which discussed measures to facilitate the regional economy.

Total KRW 61.5 billion will be invested to foster leading industries and four projects of biomedical science, electronic medical equipment, healthtainment, and ceramic nonferrous parts to lead the future of Gangwon.

The government also plans to make an investment of KRW 17 billion this year to build factories and housing in Donghae Free Economic Zone and promote job creation with efficient investment incentives.

In particular, to facilitate abandoned mine areas, total KRW 211.4 billion will be invested into the region to foster substitute cultural industries to increase employment rates.

Another investment of KRW 257 million will be provided to build a stable energy supply system and install gas lines in cities.

The province will support the cost of promotion and marketing to hold successful 2018 Winter Olympics in Pyeongchang and build IT-based ubiquitous environment for eco-friendly green Olympics.

Source: Newsis (May 23, 2013)

** This article was translated from the Korean.