S. Korea to spend 17 trl won on science belt

SEOUL, Jan. 9 (Yonhap) -- South Korea plans to invest 17 trillion won (US$15
billion) over the next 20 years to build a "international science-business belt"
aimed at attracting researchers, companies and laboratories from both home and
abroad, a high-level government official said Saturday.
The plan to create the belt was made shortly after President Lee Myung-bak took
office in February of last year as part of securing the country's new growth
sources.
"The international science-business belt will be the heart of Korea to create
jobs and sources of future growth," Bahk Jae-wan, senior presidential secretary
for state affairs planning, was quoted as saying in a magazine for promoting the
government's policy.
A state-run research center expected that the creation of the belt will generate
production growth worth 235 trillion won for 20 years and create 2.12 million
jobs.
Bahk also said educational and cultural facilities will be made in the belt to
lure more promising researchers, adding that the government will give benefits
including tax cuts to companies in the belt so that they could coexist with
high-end science research centers.
The government plans to build the belt in Sejong City, about 150 kilometers south
of Seoul.
ksnam@yna.co.kr
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