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Cheongju Kicks Off Construction of Cheongju Technopolis

(CHEONGJU = Newsis) The construction of the Chungbuk Cheongju Technopolis, a urban-type residential and industrial complex, commenced today.

Cheongju Technopolis Assets Management and the city of Cheongju held a groundbreaking ceremony at the construction site in Heungdeok-gu of Cheongju. The attendees included 300 officials including Lee Si-jong, Governor of Chungbuk, and Gwak Seung-ho, CEO of Cheongju Technopolis Asset Management.

The complex will be built on a 1,527,575m2 site, located in Oibuk-dong and Songjeol-dong in Heungdeok-gu, Cheongju.

Cheongju Technopolis began compensation for its land last November, and has compensated about 80 percent of land owners so far, and plans to expropriate some of lands. It will also complete the cultural property search and excavation work by the end of the year.

Once the construction is completed in 2017, Cheongju Technopolis will house a 530,000m2 industrial complex, residential complex for more than 3,300 households, commercial facilities, schools and government institutes.

Cheongju hopes that the complex will generate 5,800 employment opportunities and attract the population of 17,800 to the city.

12 workers are carrying out promotional activities and consulting services for Cheongju Technopolis at the public relations office in Lotte Outlets in Beeha-dong, Cheongju.

The Technopolis also signed investment agreements with eight companies, including Techwin, DMK, Neotech, Easychem, NC Tech and more on March 6 to sell its lands in early stages.

“Cheongju Technopolis is surrounded by Cheongju Industrial Complex, Osong Bio-medical Science Complex and Ochang Scientific Industrial Complex, and it will create an industrial cluster with these complexes,” said Gwak. “We will help the complex grow into the new growth engine for Cheongju.”

More than eight companies and institutes including the city of Cheongju (20 percent), Korea Development Bank (15 percent), Shinyoung (30 percent) and Daewoo Construction (15 percent) are shareholders of Cheongju Technopolis.

Source Text

Source: Newsis (Mar. 18, 2014)

** This article was translated from the Korean.