South Korea plans to inject a whopping 17 trillion won ($15 billion), stretched over the next two decades, to build an "international science-business belt" aimed at luring researchers, companies and laboratories from both home and abroad, a senior official at Cheong Wa Dae said on Saturday.
"The international science-business belt will be the heart of Korea to create jobs and sources of future growth," Yonhap news said, citing Bahk Jae-wan, senior presidential secretary for state affairs planning. Bahk's remark appeared in a magazine that promotes 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.
The planned town will be built in Sejong City, 150 kilometers south of Seoul.