CHUNGCHEONGBUK-DO < invest Korea

Chungju City’s Chungju Megapolis project is gaining momentum.

The city held a groundbreaking ceremony with Governor of North Chungcheong Province Lee Si-jong and citizens today.

Private investment of KRW 224.2 billion will be made to build an industrial complex.

The complex will sit on a 1.809 million m2 site.

Electronic information, biotechnology, new material and eco-friendly companies will move into the complex, which is expected to bring production of KRW 4.2722 trillion and 10,000 new jobs.

It is also forecast to generate an positive economic effect with an added value of KRW 265.8 billion.

Chungju mayor Lee Jong-bae noted that Chungju Megapolis will become an industrial cluster for new growth, adding that it will become a growth engine for the city with a population of 300,000.

After an evaluation of feasibility in 2009, the city established the Chungju Megapolis Corporation with SK E&C, Korea Investment & Securities, Towoo and Tomyung.

Source: Newsis (Oct. 15, 2013)

** This article was translated from the Korean.