ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) Project to build the Janghyeon Urban High-Tech Industrial Complex in Ulsan is in the preparatory stage.

Jung District of Ulsan City announced on November 17 that the Korea Development Institute (KDI) has conducted an on-site inspection of the development restricted zone in Janghyeon-dong adjacent to Ujeong Innovation City for preliminary feasibility study.

The KDI plans to complete preliminary feasibility study by July next year based on the field inspection.

The Janghyeon Industrial Complex, which was designated by the Ministry of Land, Infrastructure and Transport in January last year, will be established with a total area of 354,000 square meters and injected with KRW 131.3 billion, including compensation and construction costs.

Jung District plans to complete administrative procedures by 2018 and start land compensation in 2019. Construction work is scheduled to begin in 2020 and finish in 2023.

Research institutes for high-tech automotive industries, 3D printing, and design development, as well as financial institutions such as accounting firms and banks are expected to move into the industrial complex. Residential complex, recreational facilities, cultural facilities, childcare centers and educational facilities will be built in the complex as well.

canto@yna.co.kr

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