Invest KOREA

The Seoun general industrial complex project to be built on a 524,910 square meter-site in Seoun-dong, Gyeyang-gu, Incheon City will gain momentum, as Gyeyang submitted a request to the Ministry of Land, Transport and Maritime Affairs in early September to exclude Seoun area, currently designated as a greenbelt, from the development restriction zone.

A total of 300 billion won will be injected into building the Seoun general industrial complex including a 313,966 square meter-site for industrial facilities, a 27,320 square meter-site for support facilities and a 183,624 square meter-site for public facilities.

The public-private partnership project - 51 percent financed by the public sector and 49% percent by the private sector - completed all of the necessary procedures including conducting preliminary environmental impact test and cultural heritage field survey.

In order to recover destroyed areas, caused by the removal of greenbelt status for the development area, Gyeyang will invest 10 billion won in building a park and green fields on a 53,000 square meter-land.

The Seoun complex will attract metal processing companies, audio equipment and communication device providers and automobile and trailer manufacturers, and 250 companies have thus far expressed their willingness to be relocated to the complex.

Source Text

Source: Yonhap News (Aug. 26, 2012)

** This is the translation of a Korean article.