Hanwha in talks with gov't on research facility in Sejong City

SEOUL, Jan. 7 (Yonhap) -- Hanwha Group, a South Korean business conglomerate,
said Thursday it has held talks with the government on setting up a research
facility in a yet-to-be-built city in the nation's central region.
The government of President Lee Myung-bak is looking to persuade large companies
and private schools to establish facilities in Sejong City, about 150 kilometers
south of Seoul.
In 2005, the administration of then President Roh Moo-hyun planned to move nine
government ministries and four subsidiary agencies to the new city, named after
King Sejong, the Joseon Dynasty monarch who invented the Korean alphabet, by 2012
to promote balanced regional development.
Roh's successor, however, scrapped the plan, citing the potential for
inefficiency caused by dividing ministries and agencies between Seoul and the new
city. President Lee Myung-bak instead proposed creating a "science-business" hub.
Cheap land, low taxes and hefty government subsidies will be among a range of
incentives available for private businesses willing to build facilities in Sejong
City, government officials said.
"After reviewing the government's incentive proposals, we suggested building a
research and development facility there," said an official at Hanwha.
"However, nothing has been confirmed yet," the official said.
Hanwha's business interests include chemicals, explosives, insurance and
construction.
On Monday, the government plans to announce details of such incentives for
businessed and institutions that relocate to Sejong City.
(END)