ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) Ulsan City announced February 25 that the project to develop highly efficient automobile parts and materials has passed the deliberation of the Ministry of Government Administration and Home Affairs.

The city will confirm the action plan and establish a corporate consortium in March to begin the project in June.

The city will invest a total of KRW 20 billion (national expense of KRW 12 billion, regional expense of KRW 4 billion and private capital of KRW 4 billion) in the project from 2015 to 2018.

The city will establish a Korean branch of Fraunhofer ICT, build an international industrial and academic cluster, develop the source technology for lightweight materials, support technology transfer and nurture talents.

leeyoo@yna.co.kr

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Source Text

Source: Yonhap News (February 25, 2015)

** This article was translated from the Korean.