Daegu City Opens Financial Support Applications for Companies Moving into Innovation City

Up to 80% of rent and loan interest for Q1 this year (maximum 2 million KRW per month)

Daegu City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Daegu City announced that it will accept applications for 'interest support' on rent, sales fees, and construction costs from companies located in Daegu Innovation City to promote the attraction of companies in targeted industries according to the comprehensive development plan for Daegu Innovation City.

Through this, the city plans to actively attract medical-related companies, research institutes, and other strategic industries to the innovation city and further develop the innovation city.

The support targets for this project are companies, universities, research institutes, etc. located in the innovation city.

Companies, universities, and research institutes approved for residence under the Innovation City Act in medical-related industries that move into the Innovation Cluster site, or those that have moved in outside the Innovation Cluster site and signed an MOU with Daegu Metropolitan City, are eligible for support if less than three years have passed since their move-in date.

If selected as a supported company, they can receive quarterly support for up to three years, covering up to 80% of loan interest on office space rent or land and construction costs incurred after January 1, 2022, with a monthly limit of 2 million KRW.

Detailed information can be found in the announcement titled ‘2022 1st Quarter Daegu Innovation City Public Institution Related Industry Company Attraction Support Project’ on the Daegu City website.

The city will announce the support project details on the Daegu City website on the 14th, accept applications from March 28 to April 8, and after reviewing the appropriateness including compliance with move-in approval procedures and conducting on-site inspections, select and provide support to eligible companies by the end of April.

Companies wishing to apply should prepare the necessary documents for evaluation according to the announcement on the Daegu City website and submit them by visiting the Daegu City Regional Innovation Office or by mail.

Daegu Mayor Kwon Young-jin said, “I hope this interest support project for rent, land, and construction costs will be of great help to companies newly moving into the innovation city, and we will actively promote various projects to revitalize the innovation city and attract companies.”

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