DAEGU < invest Korea

On June 8, Daegu City announced it will designate the industrial complex for dyeing manufacturers as a regenerative business district after deliberation from the city's planning committee and the industrial site council as well as the establishment of an overarching regeneration plan.

The industrial complex for dyeing manufacturers was established in the 80s and has been the source of competitiveness for Daegu's textile industry. However, 40 years into its existence, the outdated facilities and lack of supporting facilities have raised requests to improve the working environment of the complex.

After its selection in the government's 2015 aged industrial complex regeneration project, officials have been putting together a comprehensive plan for the maintenance of old facilities, expansion of convenience facilities and creation of a better working/living environment to increase the overall competitiveness of the complex.

Earlier this year in February, the Ministry of Land, Infrastructure and Transport evaluated the validity of the renovation project as well as negotiations for the project fees. In April and May, Daegu's planning committee and industrial site council completed all the necessary administrative procedures and will designate the complex as a regenerative business district.

The regeneration plan includes the improvement of roads and parking as well as the establishment of several convenience facilities such as street lights and benches.

Also, to make up for the lack of supporting facilities, the city will build a new complex site with public investment to build a parking lot. The city is also evaluating long term construction plans with private companies.

In the second half of this year, Daegu City plans to formulate specific plans for the regeneration project after conducting tests to evaluate the effect of the project on traffic and the environment. Construction is expected to start in the second half of 2019 and finish in 2015.

jco@newsis.com

Source Text

Source: Newsis (June 08, 2018)

** This article was translated from Korean.