JEOLLABUK-DO < invest Korea

According to Yonhap News,

(GUNSAN = Yonhap News) A large shipping and marine leisure cluster will be built in Saemangeum Industrial Complex.

The city of Gunsan on April 15 signed an investment treaty with the Saemangeum Development Agency, Jeollabuk-do and 38 companies in the shipping and marine leisure industries to develop the shipping and marine leisure cluster within the Saemangeum Industrial Complex.

Under the agreement, 38 companies will invest a total of KRW 165 billion to build a 360,000m2 factory to foster the shipping and marine leisure industries.

The city of Gunsan and Jeollabuk-do will provide financial and administrative supports.

Korea Rural Community Corporation, which oversees the construction of the industrial complex, will provide lands and Korea Industrial Complex Corp. will support the factory establishment and business activities.

Gunsan National University, Korea Marine Equipment Research Institute and Jeonbuk Saemangeum Industry-University Convergence Center will foster experts and support research and development activities.

The Saemangeum Development Agency is set to develop infrastructure such as roads and railways for smooth establishment of the cluster.

“The project will make tremendous contribution to the development of the shipping industry,” said a city official.

sollenso@yna.co.kr

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Source Text

Source: Yonhap News (April. 15, 2014)

** This article was translated from the Korean.