CHUNGCHEONGBUK-DO < invest Korea

(JINCHEON=NEWSIS) Jincheon County, North Chungcheong Province, expects Shinchuk Industrial Complex and Sansu Industrial Complex to play a key role in local economy as a new economic growth engine. Jincheon plans to distribute 85 percent of Sinchuk Complex and 90 percent of Sansu Complex.

Jincheon County announced on May 15 that it had already distributed 53.8 percent of Shinchuk Complex to 49 companies, sized at 542,123㎡ and 47.7 percent of Sansu Complex to 25 companies, sized at 391,588 ㎡.

The County added the sales rate for each complex reach 67.5 percent and 75.1 percent respectively given the fact that companies that will enter the complexes in two months.

Jincheon already completed industrial waterworks in the complexes in 2012 at government expense with KRW 9.7 billion and made access road (3.2km) to the complexes at government expense with KRW 45.3 billion.

The construction for a waste water-disposal facility is now 95 percent completed.

The county has made every effort to complete two industrial complexes by next month.

Both complexes are located close to capital area and in intersection between Dongseo Highway and Jungbu Highway. Jincheon County provides corporations with various incentives land lease, tax-relief and support for companies returning to Korea for business.

“Once both Shinchuk and Sansu Complexes are in full operation, 15,000 jobs can be created and the county can see about KRW 5 trillion scale of added value induction effect. “a county official said.

Source Text

Source: Newsis (May. 15, 2014)

** This article was translated from the Korean.