1 Trillion Won to Be Invested This Year in Development of Pyeongtaek Following US Military Base Relocation

Ministry of the Interior and Safety Announces Pyeongtaek Regional Development Plan
Investment in 17 Projects Across 7 Ministries

[Image source=Yonhap News]

[Asia Economy Reporter Hyunju Lee] The government will invest 1.0449 trillion won this year for the development of the Pyeongtaek area, where the US military base has been relocated.

The Ministry of the Interior and Safety announced the 'Pyeongtaek Area Development Plan 2020 Implementation Plan' and stated on the 9th that seven ministries, including the Ministry of Land, Infrastructure and Transport and the Ministry of Oceans and Fisheries, will promote 17 projects this year.

The Pyeongtaek Area Development Plan is a project promoted for regional development following the decision to relocate 26 US military bases scattered across the Seoul metropolitan area, including Yongsan, Uijeongbu, Paju, and Dongducheon, to Pyeongtaek City.

The government established a plan to invest a total of 18.9796 trillion won in 86 projects over 17 years from 2006 to 2022, and has supported 80 projects with 17.5437 trillion won up to last year.

This year's major investment areas include construction such as urban development, railroads, and ports, as well as the enhancement of resident welfare.

This content was produced with the assistance of AI translation services.