JEJU-DO < invest Korea

According to Yonhap News,

Jeju, "Complex will make the current distribution system more efficient by lowering costs."

(JEJU=Yonhap News) The first large-scale distribution complex is set to be developed on Jeju Island.

On Jan. 30, Jeju Province announced a road-map for developing the island's first distribution complex "Jeju Port Distribution Complex," and decided to enact ordinances relevant to a support center for the development.

With distribution facilities alone covering 167,000m²of land, the entire complex could be much larger with public facilities, such as roads, and support equipment.

Two methods of development are currently under review: either by forming a private task force, such as a cooperative of many businesses with financing ability or a special-purpose company (SPC), or by having it led by the public sector.

Based on the latter option, a distribution complex development support center will be formed by this coming March, reviewing the location and area of the complex, followed by a validity investigation in June after securing a budget from local funds.

Upon completion of validity and investment evaluations next February, basic and working designs will begin in March through outsourced services. After surveying the site for possible cultural heritage assets, and other outsourced evaluations on its possible environmental impact, traffic considerations and disaster risks, a request will be submitted in March 2019 for approval of the plan to build the new complex.

Lastly, the approval will be announced in September of the same year, and construction on the sight will begin..

bjc@yna.co.kr

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