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Cheongju Technopolis commenced the 3rd-stage development of Industrial Complex

According to Yonhap News,

(CHEONGJU=Yonhap News) Chengju Technopolis (Cheongju TP) is to commence the 3rd stage-development of Industrial Complex on the scale of 2 million square meters in Songjeol-, Weobuk-, and Munam-dong, Heungdeok-gu, Cheongju city.

Cheongju TP held a press conference at Cheongju city hall's briefing room on June 13, saying that "We've finalized administrative process and Project Financing (PF) required for the 3rd stage development of Cheongju Technopolis Industrial Complex. And we will begin compensation for scheduled project site."

Cheongju TP built production facilities on 1.52 million square meters at the first stage of development in October 2017. 15 companies including SK Hynix, LG Household & Health Care are included in the list of tenants.

Currently, the 2nd round of development to increase industrial site by 240,000 square meters is underway.

In addition, it is decided to expand 2.02 million square meters for industrial sites to cope with plant expansion of SK Hynix, etc.

Cheongju TP obtained approval for change of site designation and detailed plan for the 3rd stage development from Cheongju city in February.

PF process was also completed last month, securing KRW 840 billion lending.

It is planned to commence construction from the end of next year, with a target of completion by late 2024.

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Source Text

Source: Yonhap News (June 13, 2019)

** This article was translated from Korean.