News Room - Business/Economics

Posted on 09 Jun 2009

South Korea to create industrial complexes to make new cars

The South Korean government said Sunday that it plans to set up two industrial complexes in the country's southern region as part of efforts to establish an infrastructure for the manufacture of next-generation vehicles.

The complexes would be built in the cities of Daegu, 302km southeast of Seoul, and Gwangju, 329km southwest of Seoul, the Ministry of Knowledge Economy said. It added that the complexes would be used to produce next-generation automobiles that

include intelligent cars and clean-burning diesel vehicles.

 

Factories operating in the complexes would enjoy state funded financial support and deregulation in construction and expansion, the ministry said. Work on the Daegu complex was to start in 2011 at the latest, it said.