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Taeback city to inject KRW 29.4 bln to form a mineral cluster in Cheoram

According to Yonhap News,

The city of Taeback in Gangwon Province announced the public administration ministry’s approval of the province-led community development project, which entails the formation of Cheoram industry cluster, on Mar 8.

The project aims to invest KRW 29.4 billion into building a business cluster, specialized in developing mineral resources to be used for industrial applications, on a 215,000㎡ site near Cheoram-dong.

Setting the deadline to the year 2024, Taeback city is planning to put an end to all necessary administrative procedures by the first half of the year 2022.

An official said “Once the project comes to an end, businesses nearby are highly likely to form a geographic concentration of interconnected businesses and associated organizations near Dongjeom industry cluster and Cheoram agro-industry cluster, driving community development.”

Source Text

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Source: Yonhap News (Mar 8, 2021)

** This article was translated from Korean.