GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) Administrative procedures to transform the Gwangju Songam Indusrial Complex into a high-tech video contents cluster is in its final stages.

Modified development and execution plan for the industrial complex will be reviewed by a deliberative committee, according to the provincial government.

The newly proposed plan includes designation of the site currently classified only as an industrial district additionally as a cultural facilities district. Cultural industry will be added accordingly to the types of industries of the complex currently comprised mainly of manufacturing industries.

This will wrap up administrative procedures of the project to establish an industrial cluster capable of producing video contents utilizing cutting-edge technologies. Process for land compensation will directly follow once the modified plan passes the city's deliberation.

The project, which completed preliminary feasibility study in August last year and investment review of The Ministry of the Interior in November of the same year, went into the process for modification of development and execution plans in February this year.

The provincial government plans to finish construction work by 2020 after completing land compensation by October next year.

Main facilities of the industrial complex, constructed on the site of 17,912 square meters, will be the Creative Contents Center and the Creative Contents Plaza.

The Creative Contents Center will serve as a high-tech production studio while the Creative Plaza will be used for exhibitions and marketing activities.

Other facilities including an outdoor production studio and a theme park will be built near the main buildings.

A total of KRW 101.3 billion will be injected for the project funded from the central government, city government and private investors.

sangwon700@yna.co.kr

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