BUSAN < invest Korea

According to Yonhap News,

The Sasang Industrial Complex in Busan, which led Korea’s export in the 1970s, will be transformed into a high-tech city, abandoning its image as a slum stemming from the decrepit facilities.

A consortium for the development of the Sasang High-tech Industrial Complex signed an agreement to implement the 2020 plan for Sasang High-tech City with a global real estate developer based in Japan at Lotte Hotel Busan on April 27th.

The 2020 plan for Sasang High-tech City is designed to revitalize the areas surrounding the Sasang Industrial Complex.

About KRW1.5 trillion will be injected by 2020 to remodel the Sasang Industrial Complex into a high-tech convergence complex where the eco-friendly green growth industry will be established.

The area of 3,115,500m² will be developed including the Busan West Bus Terminal and Sasang-gu Office.

The main project is to build an apartment-type factory that will serve diverse roles for production, residence, commerce, distribution, leisure and entertainment. A large-scale 50-story shopping mall and a convention center will be constructed and are expected to be landmarks in the western Busan region.

The consortium includes Busan’s flagship indigenous companies and Busan High-tech City CND.

The consortium plans to form an investment consortium with financial companies and the National Pension Fund of Korea.

Source Text

Source: Yonhap News (April 27, 2011)

**This is an English translation of a Korean news article.