ULSAN < invest Korea

According to Yonhap News,

(ULSAN=Yonhap News) On March 3, Ulju-gun, Ulsan-si announced its plan to implement various policies to promote lot sales in the Energy Convergence Industry Complex that is currently under construction in Sinam-ri, Seosaeng-myeon.

Planned measures include subsidies for sales brokerage, reimbursements for interim payment interests, and an installment payment of interim payments.

First, the subsidies for the sales brokerage of industrial facility sites are aimed at promoting lot sales by capitalizing on brokerage professionals and their information.

The policy involves providing subsidies up to 0.9% of the price of a contract that was brokered by a realtor.

To this end, the Ulju County Office signed a memorandum of understanding with the Ulsan-si branch of the Korea Association of Realtors.

As for the interest reimbursement, the county office plans to cover 3% of the interest rate applied to a business’ 70% interim payment if the business pays the amount in lump sum. This measure is designed to lower the financial burden of businesses that acquired loans to pay for their sales proceeds.

An Ulju-gun official said: “We will implement a wide range of measures to broaden the payment options and promote lot sales in the complex by lowering site purchase costs for the businesses.” The official added: “We will commit ourselves to creating jobs and revitalizing the local economy by ensuring the early launch of the industrial complex through an active PR and recruitment efforts.”

young@yna.co.kr

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Source Text

Source: Yonhap News (Mar. 02, 2018)

** This article was translated from the Korean.