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Seoul City's Industrial Newtown Project

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Seoul City launched and "Industrial Newtown Project" to develop some districts to specialize in specific businesses. "Industrial Newtown Project" is an industrial version of the city's newtown project to develop the residential environment. Seoul city will invest 3.4 trillion won into this project and expects to produce 7.3 trillion won worth of output and create 72,000 new jobs by 2017. Seoul has chosen six areas include Seongsu, Mapo, Yangjae and the city will invest 100~150 billion won for each districts. The city is planning to choose 8 additional districts such as Guro, Dobong in 2010, and they will choose 30 regions in total by 2012. The themes of regions are finance for Yoido and Jung-gu, research and development (R&D) for Yangjae, information technology (IT) for Seongsu, design for Mapo, and jewelry for Jongno.