Gov't to spend 1 tln won to upgrade industrial complexes

SEOUL, April 29 (Yonhap) -- The government will spend 1 trillion won (US$737
million) over the next three years to transform industrial manufacturing
complexes into knowledge-oriented and eco-friendly centers, officials said
Wednesday.

Work on the project, designed to fuel the country's economic growth, should begin
next year after related laws are passed by parliament and will be completed in
2012, the Ministry of Knowledge Economy said.
In a report to the Presidential Council on National Competitiveness, the ministry
said that 57 complexes were being examined as candidates for the upgrade, to be
carried out over the next 20 years, with at least three to be selected this time.
"Depending on the results of this pilot project more industrial complexes may be
selected to receive support afterwards," a ministry official said.
The plan also calls for the introduction of a streamlining process to make the
complexes more "user-friendly," enabling them to incorporate environmental
protections and serve as role-models for future industrial parks.
On top of the 1 trillion won, the ministry said 500 billion won worth of private
investment will be sought to push the plan forward.
The ministry estimated that the planned investment in the upgrade project could
boost the country's production by 4 trillion won, provide work for 33,000 people
and reduce waste and carbon dioxide (CO2) emissions.
Better garbage and sewage facilities are expected to reduce waste by 15 million
tons per year, while improved energy efficiency and emission control could cut
CO2 emissions by 4.7 million tons, it added.
yonngong@yna.co.kr
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