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Gongju city signed an MOU for inner-city industrial cluster construction

According to Yonhap News,

The city of Gongju announced on Jan. 17 that the local authority signed a memorandum of understanding for the construction plan to build up an inner-city industrial complex with Kyeryong Construction Industrial Co.,Ltd.

The cost for construction is reported to be KRW 116.2 billion and the plan will be in progress, in the form of special purpose entity (SPE) to be financed by both private and public fund raisers. To make the project go well, the city government will cover administrative support while Kyeryong will be in charge of the entire process of the construction.

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Source: Yonhap News (Jan. 17, 2020)

*This article was translated from Korean.

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