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Daejeon to create five new industrial complexes of 1.89 mn square meters, to be completed by 2029

According to Yonhap News,

Daejeon-si is set to create five new industrial complexes with a total size of 1,891,000 ㎡ (580,000 pyeong).

According to the city on March 26, the scheduled sites for five new industrial complexes are: Samjeong District (218,000㎡, 70,000 pyeong) in Panam Interchange, Dong-gu; O-dong District (824,000㎡, 250,000 pyeong) in Seo-gu; Bonggok District (332,000㎡, 100,000 pyeong) in Seo-gu, Sindae District (291,000㎡, 90,000 pyeong) in Daedeok-gu, and K-Kendall Square (226,000㎡, 70,000 pyeong) in Daedeok Innopolise in Yuseong-gu.

Samjeong District and Bonggok District will be created as specialized industrial complexes to foster the 'root industry', while Odong District will be created as high-tech industrial complex to foster the defense, space, and aviation industries.

Sindae District will be built into a water industry cluster. These four industrial complexes are scheduled to be completed by 2029.

K-Kendall Square aiming for a highly-concentrated innovation space that combines work, housing and culture is planned to be completed by 2028.

The city, which commenced establishing a basic plan in November last year, plans to complete the feasibility review of the Evaluation Institute of Public Corporation within this year and request the Ministry of Science and ICT (MSIT) to establish a special zone development plan.

With the creation of five new industrial complexes, the city expects KRW 357.9 billion in production inducement effects, KRW 167.7 billion in value-added inducement effects, and inducement of 3,068 new jobs.

Source Text

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Source: Yonhap News, (March 26, 2024)

** This article was translated from Korean.