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The Saemangeum Development Project is a national project that builds the world's longest seawall connecting Gunsan and Buan to create reclaimed land thereby building the center for ‘global free trade’ and ‘economic cooperation’, encompassing economy, business, and tourism.
Saemangeum Project Overview
A World-Class Reclamation Project, Promising the Future of Korea ~ the City Opening a New Civilization
Location
Gunsan-si, Gimje-si, Buan-gun, Jeollabuk-do
Scale
Area: 409㎢ (Land 291㎢, Lake 118㎢)
World's longest seawall: 33.9 km
Expenses
KRW 22.7 trillion (government funding of KRW12.14 tn, local funding of KRW 0.95 tn, private investment of KRW 10.9 tn) KRW 10.9 tn for site creation, KRW 6.6 tn for infrastructure, KRW 2.9 tn for water quality improvement, KRW 1.8 tn for others - KRW 6.5 tn invested by 2018
Expected population
When the development is completed, the total
induced population is expected to stand at 706,000,
Planning to accommodate 269,000 people
in the Saemangeum project area
Vision
Saemangeum (Ariul), The city opening up a new civilization
Cooperation between countries and industries for mutual prosperity and solving common problems
Creation of special zones for transnational economic cooperation
Formation of an economic community between cooperating countires
Hub of global settlement and exchange
A premium city with world-class settlement conditions Cultural convergence city embracing multiculturalism
Customized city planning
A city that flexibly reflects the needs of investors and companies
A vibrant green waterfront city
Eco-friendly city where humans and nature harmonize Sustainable high-tech agricultural green city
Specialized city for deregulation & incentives
A city that flexibly reflects the needs of investors and companies
Saemangeum's Competitiveness
“The only national project dedicated by central administrative agencies to create an economic hub in Northeast Asia”
National-level leading investment and support
A leading project with decent speed promoted by the public, with full support from the government
Establishment of Saemangeum Development Corporation, which is in charge of landfill business and infrastructure expansion
Designated as the only Korean-Chinese industrial cooperation complex in Korea
Mutual economic development plan and active investment attraction in progress
Exemption of customs duties when exporting imported raw materials
Flexible regulation compared to other special zones in Korea such as Free Economic Zone and Free Trade Zone
Unlimited storage period for imported goods and various tax benefits
Providing long-term rental land (50 years + 50 years) to domestic and foreign investment companies
Significantly simplifies the procedure for issuing a visa (C-3) through a letter of recommendation
Construction of a Gunsan-specialized job model for electric vehicles
After creating the electric car cluster, a total of 177,000 electric cars are expected to be produced by 2022 ‘Investment of KRW 412.2 billion and job creation of 1,902 by 2022’
Participating companies: 4 medium-sized companies and 5 parts manufacturing companies
Myungshin, Saemangeum Consortium, Edison Motors, Daechang Motors, and MPS Korea
Attraction of Gunsan Small-strong Special R&D Zone
In the background of Saemangeum
Industrial Complex and Gunsan National
Industrial Complex, 6 regional research
support institutes including Kunsan
University and Automobile Convergence
Technology Institute are participating to
form a special R&D zone
Saemangeum New Transportation Special Zone
A special zone that can test and
commercialize the core technologies
of the 4th industrial revolution related
to land, sea, and air mobility, such as
autonomous vehicles, drones, and
Wig ships in the Saemangeum region,
will be created
Saemangeum Land Use Plan and Major Projects
Future car cluster
Creating a 3.4㎢ future car cluster in Saemangeum Industrial Complex (Agreement with 10 agencies)
Designated as a special research zone for eco-friendly future vehicles, Building infrastructure such as commercial vehicle driving test bed
Renewable energy cluster
Period : 2018~2025
Project entity : Saemangeum Development Agency, Saemangeum Development Corporation, Gunsan City
Business description: Floatingsolar 2.1GW, Groundsolar 0.3GW, Fuel cell 0.1GW, Wind power 0.1GW
Eco-friendly smart waterside city
Business description : Development of a eco-friendly smart waterside city(International business, convention, hotel, resort, art center, residential, etc.)