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Construction of 9 Urban High-Tech Industrial Complexes to Begin in 2017

According to Yonhap News,

(SEJONG=Yonhap News) The Ministry of Land, Infrastructure, and Transport announced the measures to establish industrial site areas to revive the regional economy at the 8th economic ministers meeting.

The ministry aims to begin construction of 9 urban high-tech industrial complexes in Daejeon City, Gwangju City, Daegu City, Ulsan City, South Chungcheong Province, South Jeolla Province, North Gyeongsang Province, South Gyeongsang Province and Jeju City, 3 national industrial complexes in Jinju & Sacheon Cities, Miryang City and Jeonju City and an investment leading zone in Wonju City.

The 13 industrial site areas, which will focus on the strategic industries of each region, will be likely to be designated as regulation-free zones once the special act on regulation-free zone is passed.

The ministry will amend the Enforcement Ordinance on the Industrial Site Act to simplify the process of changing target sectors.

"We will establish industrial site areas tailored to each sector to maximize the innovation capabilities of companies and help them do business more freely," said a ministry official.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (Jun. 09, 2016)
** This article was translated from the Korean.