GANGWON-DO < invest Korea

According to Yonhap News,

The site of aerospace university in Sachang-ri, Sanae-meyon, Hwacheon-gun, Gangwon-do will be transformed into industrial complex.

Hwacheon-gun announced on February 16 that it signed an agreement for relocation of the aerospace university site with the Defense Installations Agency of Ministry of National Defense.

According to the agreement, the county will secure and donate the site for relocation of aerospace university outside the downtowon area to the the Defense Installations Agency. In exchange, the Defense Installations Agency will cede the site of aerospace university. Through this 'donation vs. donation' way, the county will proceed with the creation of industrial complex.

The county plans to create the industrial complex on the site of 77,118 square meters in total area, attracting universities, and thereby revitalizing local economy.

With move-in of numerous companies, the county expects the revitalization of local economy and creation of decent jobs for local residents.

The project budget of KRW 26.7 billion will be invested for the creation of industrial complex in Sachang-ri, with the target date for construction completion set for 2025.

In addition to industrial facility land enough to accommodate up to 20 companies, roads, wastewater treatment facilities, management office and convenient facilities will be installed.

jlee@yna.co.kr

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Source: Yonhap News (February 16, 2022)