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MOTIE Invests KRW 594.7 Bn in Developing Regional Industries

According to Yonhap News,

(SEOUL=Yonhap News) The Ministry of Trade, Industry & Energy (MOTIE) will invest KRW 594.7 billion (USD 548 million) in developing regional industries, including regional core industries and support projects for innovative cities.

The ministry held the first regional economic committee for 2015 on January 27 at the Palace Hotel Seoul, which was attended by Deputy Minister Hwang Kyuyearn for Industrial Creativity and Innovation of MOTIE and officials from 14 cities and provinces to establish a plan to promote regional industries.

The ministry will invest KRW 266.2 billion in regional core industries and KRW 237.5 billion in industries for economic cooperation.

It will also invest KRW 11.2 billion in support projects for innovative cities and KRW 79.8 billion in regional traditional projects.

The action plan for 2015, which is a follow-up to the plan to develop regional industries from 2014 to 2018, will be promoted in relation to the creative economy and plans for developing regional industries.

"With the plan to promote regional industries, we will be able to establish a creative economy ecosystem that creates high value-added through convergence between regional industries and advanced technology and services and turns creative ideas into projects," said Hwang.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (January. 26, 2015)

** This article was translated from the Korean.
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