GANGWON-DO < invest Korea

According to Yonhap News,

Chuncheon City will accelerate the development project for Bongmyeong Industrial Complex in Dongsan-myeon.

Gangwon Province announced its plan to designate a 540,000 square meter-site in Dongsan as the general industrial complex.

Gangwon has chosen Bongmyeong Techno Valley, a consortium of Chuncheon City Corporation and a private corporation, as a developer and will attract businesses from bio-food and medicine manufacturing sectors.

Bongmyeong Techno Valley plans to invest about 56 billion won to secure land sites for industrial use and build roads and water and sewage system necessary for the complex.

The consortium aims at getting the approval within the first half of this year and will start construction this year.

"We have already attracted investments from 16 companies. We will take appropriate procedures to deal with land compensation issues," said a Chuncheon official.

Source Text

Source: Yonhap News (Mar. 13, 2012)

**This is an English translation of a Korean news article.