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Gwangju Metropolitan City, Jeollanam-do, and Naju City held a kickoff briefing session for the "Joint Innovation City Development Fund Establishment and Foundation Establishment Research Commission Project" on the afternoon of the 28th in the city hall's medium conference room. Photo by Gwangju Metropolitan City
[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Metropolitan City, Jeonnam Province, and Naju City announced on the 28th that they held a kickoff meeting for the "Joint Innovation City Development Fund Establishment and Foundation Establishment Research Commissioned Project" (hereinafter referred to as the research commissioned project) at the Gwangju City Hall medium conference room.
The fund and foundation establishment research commissioned project is being promoted to support the diffusion of the innovation city's achievements to surrounding areas and contribute to balanced regional development, in accordance with Article 49 (Sharing of Innovation City Development and Operation Performance) and Article 47-3 (Establishment and Operation of Innovation City Development Support Center, etc.) of the Innovation City Act.
Accordingly, the three local governments of Gwangju City, Jeonnam Province, and Naju City announced a joint agreement last November to promote a joint service for the creation of a development fund and foundation establishment, and last month, they signed a consignment agreement with the Korea Institute for Industrial Economics and Trade, a national research institute, to carry out the project.
The Korea Institute for Industrial Economics and Trade, entrusted with the research commission, will investigate and study the financial analysis of the innovation city by an accounting firm for the establishment of the joint development fund, the timing of fund creation, resources and scale, usage, and the establishment of a fund management organization.
In addition, it will prepare plans for establishing a development foundation that promotes the activation of the innovation city, such as fund operation, attraction and support for startups of companies and resident institutions within the innovation city, regional specialization and win-win development, nurturing local talent, improving residential environment, and innovation city hub projects.
Lee Jeong-sik, Director of the City Autonomy Administration Bureau, said, "After the entrusted project ends in May next year, we plan to establish the development fund and development foundation through the enactment of related ordinances," and added, "We will proceed without any setbacks so that the achievements of the joint innovation city spread to surrounding areas, laying the foundation for balanced regional development and becoming an important turning point for the win-win development of both cities and provinces."
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