Four conglomerates sign accords to invest in new business hub
- 공보실
- 2010.01.21
- Hit 3474
2010.01.14 15:00
Sejong City-MOUs
Four conglomerates sign accords to invest in new business hub
By Shim Sun-ah
SEOUL, Jan. 14 (Yonhap) -- Four local conglomerates pledged Thursday to invest in the new city of Sejong, the prime minister's office said, as the government moves to gain momentum for its revised plan to turn the city into a business and science hub.
Samsung, Hanwha, Lotte and Woongjin signed separate memorandums of understanding (MOUs) with the government to invest a total of 4.38 trillion won (US$3.87 billion) to build manufacturing and research facilities in the city, the office said.
Two universities -- Korea University and the Korea Advanced Institute of Science and Technology (KAIST) -- also signed MOUs to build new campuses in Sejong City, some 150 kilometers south of Seoul, it added.
The signing comes three days after the government announced that it would scrap a controversial plan to relocate several government offices out of Seoul and instead seek to attract corporations, universities and high-tech research centers to the designated site.
The MOUs included the government's promise to provide cheaper land, tax cuts and financial support to the investors, officials said. Any changes to the original plan require parliamentary consent.
The government also pledged efforts to complete taking necessary legal and administrative steps by the end of this year to implement the plan, they said.
Prime Minister Chung Un-chan, three other ministers and executives of the four conglomerates attended the signing ceremony.
In 2005, the former administration led by liberal President Roh Moo-hyun decided to relocate nine ministries and four subsidiary agencies to the city in South Chungcheong Province in steps from 2012 to 2030 to decentralize the capital area. But his successor, President Lee Myung-bak has sought to revoke the plan, saying it would cause administrative inefficiency and waste taxpayers' money. The government's proposed revisions have caused a political uproar among opposition parties, Chungcheong residents and even some members of the ruling party.
The city is named after the inventor of the Korean alphabet, King Sejong, of the Joseon Dynasty (1392-1910).
Chung said on Wednesday that he will soon issue an advance notice of legislation on the revised plan in the hope of reducing social confusion that might be caused by slow progress of the plan.
(END)
Sejong City-MOUs
Four conglomerates sign accords to invest in new business hub
By Shim Sun-ah
SEOUL, Jan. 14 (Yonhap) -- Four local conglomerates pledged Thursday to invest in the new city of Sejong, the prime minister's office said, as the government moves to gain momentum for its revised plan to turn the city into a business and science hub.
Samsung, Hanwha, Lotte and Woongjin signed separate memorandums of understanding (MOUs) with the government to invest a total of 4.38 trillion won (US$3.87 billion) to build manufacturing and research facilities in the city, the office said.
Two universities -- Korea University and the Korea Advanced Institute of Science and Technology (KAIST) -- also signed MOUs to build new campuses in Sejong City, some 150 kilometers south of Seoul, it added.
The signing comes three days after the government announced that it would scrap a controversial plan to relocate several government offices out of Seoul and instead seek to attract corporations, universities and high-tech research centers to the designated site.
The MOUs included the government's promise to provide cheaper land, tax cuts and financial support to the investors, officials said. Any changes to the original plan require parliamentary consent.
The government also pledged efforts to complete taking necessary legal and administrative steps by the end of this year to implement the plan, they said.
Prime Minister Chung Un-chan, three other ministers and executives of the four conglomerates attended the signing ceremony.
In 2005, the former administration led by liberal President Roh Moo-hyun decided to relocate nine ministries and four subsidiary agencies to the city in South Chungcheong Province in steps from 2012 to 2030 to decentralize the capital area. But his successor, President Lee Myung-bak has sought to revoke the plan, saying it would cause administrative inefficiency and waste taxpayers' money. The government's proposed revisions have caused a political uproar among opposition parties, Chungcheong residents and even some members of the ruling party.
The city is named after the inventor of the Korean alphabet, King Sejong, of the Joseon Dynasty (1392-1910).
Chung said on Wednesday that he will soon issue an advance notice of legislation on the revised plan in the hope of reducing social confusion that might be caused by slow progress of the plan.
(END)