Daejeon City Applies for Innovation City Designation in July... Balanced National Development Act Passed, Follow-up Procedures Initiated

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City announced on the 10th that it will begin the procedures to designate the old downtown area, including the Daejeon Station area, as an innovation city.

This follows the passage of the amendment to the Special Act on Balanced National Development in the National Assembly plenary session on the 6th. The amendment will take effect at the end of June this year, three months after its promulgation.

Accordingly, the city plans to apply for the designation of an innovation city to the Minister of Land, Infrastructure and Transport in July, so that Daejeon can be finally designated as an innovation city through the review and resolution process of the National Balanced Development Committee in the second half of this year.

In addition, as soon as the government decides on the additional relocation direction of 122 public institutions, it plans to carry out activities to attract public institutions while creating an industry-academia-research national innovation cluster where private companies, research institutes, and local universities related to the relocated public institutions cooperate to generate synergy effects.

Heo Tae-jeong, Mayor of Daejeon, said, “With the designation of the old downtown as an innovation city, we will create a win-win development model between the new and old downtown areas and further transform Daejeon into a central city of innovative growth leading the 4th Industrial Revolution.”

This content was produced with the assistance of AI translation services.