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Action Plan Approved to Build Goesan High-Tech Industrial Complex

According to Yonhap News,

(GOESAN=Yon Hap News) The County of Goesan will begin the construction of the Goesan High-tech Industrial Complex in Goesan, North Chungcheong Province.

The County announced on July 1 that North Chungcheong Province has approved the action plan and the modified development plan of the industrial complex.

The initial plan of the County was to establish a special purpose company (SPC) and create a high-tech industrial complex (458,000㎡) by investing in USD 56.8 billion of private capital. However, the plan was asked for reassessment at the investment and borrowing assessment of local finance last year.

Therefore, the County has changed the project to a public development project. It has then received a conditional approval at the investment and borrowing assessment of local finance in April and a final approval of the action plan.

The County will hold a presentation for residents, research underground and urban ground facilities and carry out the land appraisal system during this month. The Complex will begin its construction in the first half of next year and complete in 2017.

The County will lower the land price by reducing the project cost and concentrate on high-tech sectors including IT and BT.

A County official said, “The establishment of the industrial complex will create around 10,000 jobs. We will attract leading businesses through tailored PR and proactive lot allotment by holding meetings with the businesses.”

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Source Text

Source: Yonhap News (July. 01, 2014)

** This article was translated from the Korean.