GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) The sales rate of Bitgreen Industiral Complex in which an automobile factory jointly built with Hyundai Motor, the first model of the so-called Gwangju employment, reached 10% in 8 months ahead of construction completion.

According to the Gwangju and Jeonnam Division of The Korea Land & Housing Corporation (LH) on April 18, 195,000 square meters, 10.4% of total land area of 1.882 million square meters was sold.

To categorize by usage, 76,000 square meters for industrial facility , 61,00 square meters for detached houses , 50,000 square meters for support facilities, and 6,000 square meters for public facilities.

LH Corporation said that with the first phase of construction (December this year) due 8 months later, 10% sales rate means a good start.

LH Corporation is working on negotiated contracts for 135,000 square meters of industrial facilities, and expects the sales rate to record upward trends considering a number of inquiries pouring in.

In particular, once Hyundai Motor JV factory moves in Bit Green Industrial Complex, a model of the Gwangju Employment, the sales of industrial facilities are likely to gain momentum due to auto-related businesses effects.

An official said, "We have received a lot of inquiries from related industries following the decision on Hyundai JV factory."

The sales of Bitgreen Industrial Complex might be, of course, influence by domestic and international economic trends including the auto industry.

Bitgreen Industrial Complex, commencing construction in 2009, is being built up on the area of total 4.071 square meters. The first phase (2.644 square meters) is slated for completion in December, followed by the second phase (1.427 square meters) in June 2023.

Bitgreen Industrial Complex can be easily accessed due to its proximity to National Highway No. 22 that connects Gwangju city and Yoenggwang of Jeonnam, West Coast Highway (23km away), and Musan-Gwangju Highway (8.5km away).

shchon@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (April 18, 2019)