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According to Yonhap News,
North Jeolla Province (Jeonbuk) has unveiled a long-term plan to build a new industrial complex in an attempt to draw companies and promote the balanced development.
The province will start the construction, based on the survey of the demand for industrial sites and candidate locations conducted by Jeonbuk Development Institute, to be completed in September.
Jeonbuk has decided to establish the complex to respond to companies' desire to advance into the Chinese market via industrial sites off the western coast and to promote its balanced development with the eastern areas. Considering these, the province plans to search for candidate locations.
A Jeonbuk official said, "The 41.13 million square meter-industrial complex will be built by 2020. Excluding roads and parks within the complex, however, the actual size of land secured for companies is estimated at a meager 23.68 square meter, which triggered us to consider establishing additional complexes."
Source: Yonhap News (Mar. 16, 2012)
** This is an English translation of a Korean news article.