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According to Yonhap News,
(CHANGWON=Yonhap News) The Changwon National Industrial Complex, the cradle to machine engineering, is transforming into an advanced industrial complex.
Changwon City and the Korea Industrial Complex Corporation signed an agreement on expanding Changwon Industrial Complex jointly on September 17 at the City Hall.
According to the agreement, both parties will spend KRW 168.6 billion to expand the complex by including 435,000 ㎡ of land around Sangbok-dong and Wanam-dong in the new factory site.
The expanded complex will attract advanced businesses such as hydrogen fuel cells and green car parts to revitalize the machine industry in recession.
The Ministry of Land, Infrastructure and Transport has approved the development plan of the Industrial Complex in May.
The Changwon Industrial Complex was designated as the national industrial complex on April 1, 1974 with the purpose of fostering machine industry.
However, as the traditional machine industry is depressed, the complex needs to attract advanced businesses.
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** This article was translated from Korean.
Source: Yonhap News (September 17, 2018)