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According to Yonhap News,
(CHUNCHEON=Yonhap News) Gangwon Province announced December 5 that the province and Canada’s Dundee Corporation will establish the Dundee 360 East Coast Development within the year to promote investment and development of the Mangsang District of East coast Free Economic Zone.
The Dundee 360 East Coast Development is a special purpose company where KRW 3 billion has been deposited via a local financial company and applied for the establishment registration.
The headquarter of the Dundee 360 East Coast Development will be in the ANGVA (Asia-Pacific Natural Gas Vehicles Association) EXPO in Mangsang District to develop the region.
The province and Dundee Corporation will reach a shareholder's agreement to develop Mangsang.
The province plans to complete the development of Mangsang District (6.49㎢) before the 2018 Pyeongchang Olympics.
"We will do our utmost to bring tangible results before the Olympics," said a Gangwon official.
limbo@yna.co.kr
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Source: Yonhap News (December. 05, 2014)
** This article was translated from the Korean.