JEJU-DO < invest Korea

According to Newsis,

Jeju's urban design planning will be amended to turn the former Tamra University campus into a business complex.

According to the Jeju special self-governing provincial government on July 17, Jeju's urban planning committee accepted a revision of the Tamra University campus redevelopment plan that changes its current type of land use, a school site, on July 14.

The local government will soon disclose the revised plan and commission service contractors to set a district-unit plan on it.

Since 2010 when the former Tamra university was consolidated with Jeju International University, the campus has no longer served as a school site. Jeju, therefore, announced to turn the abandoned campus into a high-tech industrial complex, called "Hawon Techno Valley".

Accordingly, the area will be a high-tech industrial zone to nurture the aerospace and IT industries.

Meanwhile, Hawon Techno Valley has been on the spotlight as it was deemed as one of the promising areas to build a space R&D center by Hanwha Systems.

Hanwha Systems revealed its plan to invest tens of billions of won to construct a 10,000-square-meter space center in Jeju during its signing ceremony with the Jeju government to foster the private space industry on the island.

It laid out a blueprint that, based on the space center, it is going to mass-produce micro-sized low earth orbit satellites for both the domestic industry and export.



koss@yna.co.kr

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Source: Newsis (Jul. 17, 2023)