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According to Yonhap News,
(ANDONG/GYEONGSAN=Yonhap News) North Gyeongsang Province held a groundbreaking ceremony for the 4th Gyeongsan General Industrial Complex in Sinje-ri, Jillyang-eup, Gyeongsan City.
The province will spend a total of KRW 494.4 billion to create the new industrial complex across 2.4 million square meters in Sinje-ri and Damun-ri, Jillyang-eup, by 2020.
When it opens, some 70 companies are expected to move in from various sectors, including textile and metal processing, precision medical and electronic devices, automotive and trailer manufacturing. The Korea Industrial Complex Corporation will act as the project’s developer, while Daewon will serve as the main contractor.
Located 8 kilometers from the Gyeongsan Interchange, the new industrial complex is a 15-minute drive away from the Gyeongbu Expressway, and creates an industrial belt with the national industrial complexes in Daegu, Gumi and Pohang.
The province expects the new industrial complex to create 12,000 new jobs, USD 18 million in exports, a production induction effect of KRW 5.8 trillion, and a KRW 35 billion increase in local tax revenue.
North Gyeongsang’s Deputy Governor of Economy Wu Byeong-yun noted, “many jobs will be created for young job seekers,” adding, “the province will focus on attracting investment and nurturing promising SMEs.”
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Source: Yonhap News (Nov. 23, 2017)
** This article was translated from the Korean.