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Daegu City envisions 1-trillion-won investment era

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2012-01-02
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Daegu City said billionaire investor Warren Buffett (chairman of Berkshire Hathaway) had visited Korea’s third-largest city in March to make a 100-billion-won investment in TaeguTec’s second plant. Such an investment has raised worldwide investment interest in Daegu, while marking a significant milestone for the city, Daegu City added.

For instance, Seongseo’s fifth high-tech industrial complex attracted 600 billion won in investment to build the factory headquarters for SSLM, a joint venture between Samusung LED and Japan’s Sumitomo Chemical, on a 110,719-square-meter land space. The ground-breaking for the plant took place in July, with completion set for the end of this year. Full-fledged operations for producing sapphire ingots and wafers are expected to begin in February 2012.

Seongseo’s fifth high-tech industrial complex is known for its convenient logistics, such as accessibility, and promotion of synergy due to the specialized nature of the types of businesses on the site. It also boasts the ability to attract first-class human resources and being environmentally-friendly has gained a reputation as a “world-class” industrial complex.

Furthermore, in April, the Daegu Technolopolis site succeeded in attracting investment from Hyundai IHL, a subsidiary of Hyundai Mobis that produces lighting and fog lamps for automobiles. Hyundai IHL invested 102 billion won for a 49,500-sqaure-meter plot to build a production plant by February 2012. Plans also include adding a second phase by 2013 to add a research center and an A/S factory.

And in June, the Dalseong second foreign complex drew in a 500-million-won investment from Jura Solar, a joint venture between German solar company J.V.G Thoma and a Korean company. The site also attracted four contact companies, such as Samsung Anycar, helping to create 500 new jobs.

Such success in winning the interest of blue-chip companies is expected to help Daegu Science Park attract large companies

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