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Land set for Janghyeon Urban High-Tech Industrial Complex released from development restrictions

According to Yonhap News,

Ulsan city said that the land set for 'Janghyeon Urban High-Tech Industrial Complex' has been released from development restriction zone, likely to facilitate a project of constructing an industrial complex.

According to the city, the project of building Janghyeon Urban High-Tech Industrial Complex around Janghyeon-dong, Jung-gu, passed the Central City Planning Committee's deliberation in April this year. And as a follow-up measure, the Ministry of Land, Infrastructure and Transport (MOLIT) will announce such release from development restrictions on July 13.

This project has been proceeded as one of national projects, in accordance with the government's '7th investment facilitation measures.'

Korea Land & Housing Corporation (LH) is planned to invest KRW 145.4 billion in building the industrial complex on the area of 316,000㎡ around Janghyeon-dong, Jung-gu and Sirye-dong, Buk-gu, with a target of completing construction by 2025.

The city expects that this project will secure the land for knowledge & information centered industry in the central city, boasting great accessibility. It is expected to contribute to job creation and investment facilitation, leading to revitalization of local economy and balanced regional development.

Source Text

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Source:Yonhap News (July 13, 2021)

** This article was translated from Korean.