The government plans to increase the number of companies operating in the country's ten innovation cities to one thousand by 2022 as part of efforts to promote the cities. 

The government unveiled the plan on Monday after a meeting of chiefs of economy-related ministries. 

It said it is proceeding with its regional development plan to relocate 113 public organizations to ten innovation cities across the nation and attract businesses and research institutes to develop the cities into regional hubs for growth.

The relocation of 110 public organizations has been completed, while as of June, some 640 companies, mostly small regional businesses, moved to the cities, hiring about eleven-thousand people. 

The government plans to increase the number of companies and employees to one-thousand and 20-thousand, respectively by 2022 by creating a favorable business environment through deregulation. 

It will produce a comprehensive development plan for innovation cities in October.