GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) Construction of the Gwangju Urban High-tech Industrial Complex officially kicked off with a groundbreaking ceremony held on December 12, 2016. 

Once completed, the industrial complex is expected to generate production inducement effect of KRW 1 trillion.

At the event hosted by the Ministry of Land, Infrastructure and Transport and Gwangju Metropolitan City, 200 distinguished guests attended to celebrate.

"The Gwangju Urban High-Tech Industrial Complex will play a pivotal role in new energy industries of our nation, organically complementing the Gwangju-Jeonnam Innovation City," Land Minister Kang Ho-in said in his congratulatory remarks.

The industrial complex will be developed focusing on energy new industries and established on the 485,000 square meters of land in Apchon-dong and Jinseok-dong, Nam District, Gwangju. Estimated budget for the construction is about KRW 142.8 billion.

After the first phase of construction commenced with the groundbreaking ceremony, the second phase to build a adjacent local industrial complex sized 1.24 million square meters will follow.

Completion of construction is scheduled in 2019. Companies and organizations including LSIS, the Korea Electrotechnology Research Institute, and the Korea Basic Science Institute are planning to move into the industrial complex.

The Ministry of Land and the Gwangju City expect the new industrial complex will contribute to the development of the local economy by creating production inducement of about KRW 1 trillion and 5,000 jobs.

Construction of the local industrial complex, which is under discussion with The Ministry of Land, Infrastructure and Transport for lifting land use restrictions, is planned to begin in April next year and will be completed by 2020.

hs@yna.co.kr

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