On Jan. 9, construction work is underway at the Yongin Semiconductor Cluster general industrial complex in Wonsam-myeon, Cheoin-gu, Yongin, Gyeonggi Province. (Yonhap)
SEOUL, Feb. 6 (Korea Bizwire) – The government is pushing to increase state support for high-tech companies investing in regions far from the Seoul metropolitan area as part of its latest efforts to promote balanced regional development, the budget ministry said Friday.
The plan was unveiled during a meeting co-hosted by the Ministry of Planning and Budget and the Ministry of Trade, Industry and Resources, which also brought together representatives from key strategic industries, including semiconductors, batteries and robotics.
Under the proposal, companies making investments in regions distant from the capital area could receive double the national funding for infrastructure costs in high-tech strategic industrial complexes that would normally be available to those investing in the capital and its surrounding areas, according to the ministry.
The support would cover expenses for roads, water facilities and in-plant power substations, potentially easing companies’ financial burdens and boosting their competitiveness, it said.
A national committee, chaired by the prime minister, is expected to approve the scale of corporate investment in the first half of the year, the ministry said. Once approved, companies would be eligible for the increased infrastructure funding.
(Yonhap)
