Invest KOREA

Project Overview

• Location: Around 175, Dongjeom-dong, Taebaek-si, Gangwon-do (216,308㎡)
• Project Budget: KRW 36,143 million (National 17,275/ Provincial 5,183/ Munipicial 13,685)
• Facilities to be introduced: Infrastructure including roads and water treatment facilities
• Organized by: Taebaek-si
• Project period: 2015~2020

Locational condition

• Location: Bordered Samcheok to the North and East; Jeongseon, Yeongwol to the West; and Bongwha-gun, Geyongsangbuk-do to the South. Cheoram Agricultural Complex is located within 10km.
• Accessibility (Transportation Infrastructure): Connected to No.35 national road on South-North, and No.31, No.38 national roads on East-West
• Nearby tourist sites: Taebaek Palezoic Museum where fossil and other experiential education reflecting the natural environment of the Paleozoic Era is located within 1km, while Cheoram Coal Mine History Town, which displays old coal mine area is located within 10km

Development Concept

• Create industrial complex of growth engines to build the infrastructure related with carbon convergence new materials

Land status

• National land: 665㎡/ Public land: 215,895㎡/ Private land: 82㎡

Incentives

• Reduction for Abandoned Mine Area Promotion District : Property tax exemptions for 7 years on building and attached land in newly building or expanding a factory, and 50% reduction for the following 3 years
• Support site purchase expense (limit set at 1 billion won): 50% of site purchase expense
• Support facility investment expense (limit set at 2 billion won): 30% of construction and facility investment expense
• Support logistics subsidy (up to 32 million won per year): 60% quarterly support
• Other subsidy support including employment subsidy, rent subsidy

Expected results

• Revitalize local economy including job creation by attracting companies as a result of laying the foundation for industrial complex

• General Information about Taebaek-si

  • Area : 303.52㎢
  • Population : 42,586 (as of January 2021)
  • Characteristics : Tourism and resort city of high land centered on leisure sports
• Investment Advantages
  

  • Abundant in coal resources which can be used as raw materials for composite materials for carbon
  • Synergy effect between related projects as Gangwon Technopark is push for a ceramic materials industry support project utilizing pumice centered on the Raw Material Industry Support Center located in Dongjeom Industrial Complex
  • National support is available in accordance with Special Act on support for development of abandoned mine areas