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2017.03.14
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Okgye Industrial Site developed by POSCO is looking for partners

Contact: posco New Business Dept. (Email) wok2@posco.com


posco is the most competitive steel producer in the world with business groups covering Steel, E&C, ICT, Trade, Chemical and Energy with consolidated revenue of 53,083,513 Million KRW in 2016.

posco owns 485,000㎡ industrial site, which is located in the central eastern part of Korea. This property was originally developed for the magnesium ingot production plant. However, the plant occupying small area of this site has been shut down. Most of the site is available for instant use for any industry. posco is looking for collaboration partners to revitalize this site. posco will support partners for the successful business in KOREA


Okgye Industrial Site


□ Project history


○ Nov. 2009: Gangwon Province, Gangneung City, POSCO sign MOU for Mg ingot production plant
○ July 2010: Okgye industrial site construction plan approved for Sections 1, 2, 3
○ Aug. 2012: Mg ingot plant completes construction, capable of producing 10,000 tons per year
○ June 2013: Environmental impact questioned after leakage during coal gasification
○ May 2014: all Mg ingot smelting operations shut down, only Mg refining operations continue partially (10 tons per month)
○ Dec. 2014: Partial construction for Section 1 approved
○ May 2015: Establishment of production plant reported


□ Site details


○ Location: Jusu-ri, Okgye-myeon, Gangneung-si, Gangwon Province (89km from Sokcho-si, 26km from Gangneung city center, 15km from Donghae-si, 32km from Samcheok-si)
○ Area: 485,000㎡, 5,200,000ft2, 119 acres
   - Section 1: 245,000㎡ (Mg ingot plant to be removed)
   - Section 2: 220,000㎡ (open area)
   - Section 3: 20,000㎡ (service area: roads, parks, greenery, waste water disposal facilities)
   - Total area equals 68 soccer fields
○ Accessibility: 2km from Expressway 65
   - 230km from Seoul, less than 2 hours by train (KTX Gangneung Station)
   - 0.9km from Okgye Station, 1.5km from Okgye Port
○ Okgye port loading capacity: 11 million tons per year, 5 berths (7 million tons of cement, ocean depth of 9-15m)
○ Power supply: 4,500kw, including KEPCO Okgye substation output


* See attached file for further details.

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