Korea to develop 40 area-specific industrial clusters

South Korea will provide intensive supports to help develop 40 regional places as industrial clusters for the next three years, including the secondary batteries and photovoltaics businesses in Chungcheong Province and the bio-medical and healthcare businesses in Gangwon Province.

Under a plan released by the Ministry of Knowledge Economy (MKE) Tuesday, the government will put 285 billion won ($246.2 million) this year and support 1,650 small companies in related areas by 2014.

The plan is part of phase II regional pioneering projects aimed at a balanced development between regions where 22 pioneering works and 40 projects will be undertaken.

For full article see Maeil Business.