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Sales Rate of Goesan Daeje Industrial Complex Riding High, to Reach 90% at the End of Year

The sales rate of the Goesan Daeje Industrial Complex reached 78.3%. The low price and and the best location led to the increase of the total rental area.

Goesan-gun announced on 15 that the number of establishments in the complex was 26 in July, accounting for 78.3% of the sales rate. Two more establishments of the SMEs by the end of the year will push the rate up to 90%.

The sales rate of the unsold site with the area of 500,000 ㎡ more than doubled this year from 32% in last year.

The County guaranteed for KRW 80 billion to establish a Special Purpose Company (SPC) with a private firm in 2013 for the establishment of the complex. Due to the unsold sites, it had to pay back KRW 3.2 billion of annual interest before the completion of the construction.

After the completion, it had KRW 2 billion of annual interest, with increased management cost of the site every year.

However, this year's great increase in the sales decreased the financial burden of the county.

The county made an investment agreement with Interconstech on July 14, 2017 on the purchase of the 17 billion won plant site in the Daeje Industrial Complex.

Interconstech built their plant and made another agreement this April with the county to build additional plant on a plot of 57,876 ㎡.

In the same Month, Mokin, an agricultural corporation built fruit vegetable processing plant on the pot of 16,694 ㎡ and on June 14, Saeum built a structural material plant on a plot of 33,607 ㎡.

Magnex built machinery parts plant on a plot of 10,560 ㎡. FYG built a condiment plant on a plot of 4,000 ㎡ and operating the plant. It is expected that when two more SMEs build their office on the plot of 20,000 ㎡, the sales rate will reach 90%.

"This Industrial Complex is located in the center of the country and the rental fee is relatively lower than other complexes, so large companies and SMEs prefer to have their production and logistics station here," said a county official, and added, "We will try to achieve 100% sales rate by attracting investments from the blue chips."

Source Text

Source: Newsis (August 15, 2018)

** This article was translated from Korean.