CHUNGCHEONGBUK-DO < invest Korea

According to Yonhap News,

(CHEONGJU=Yonhap News) Cheongju City will cooperate with Hyundai Engineering, Lead Development, SR Green Tec and Kyobo Securities to build the second Technopolis industrial complex in Ochang.

Cheongju City announced May 31 that it will sign a memorandum of understanding (MOU) with the companies for the development of the Cheongju Ochang Technopolis on June 4.

The Cheongju Ochang Technopolis is regarded as the second Technopolis since the Cheonju Technopolis is under construction in Oebuk-dong and Songjeol-dong.

According to the MOU, the city and the companies will establish a special purpose company (SPC) to develop an industrial complex on 2,568,307㎡ of land in Ochang.

The starting capital for the SPC is KRW 1 billion and the city will have 20 percent of the share.

"Hyundai Engineering and Lead Development will apply for the approval for the planning of the industrial complex in June. A temporary Board of Directors for the Cheongju Ochang Technopolis will be established in July," said a city official.

jcpark@yna.co.kr

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