SK Construction to Develop 'Jincheon Megapolis Industrial Complex' with 260 Billion KRW Investment

SK Construction and Towoo Construction announced on the 11th that they signed an investment agreement worth 260 billion KRW on the 10th with Chungbuk Province and Jincheon County for the development of the 'Jincheon Megapolis Industrial Complex.' From the left, Song Gi-seop, Jincheon County Governor, Kim Sa-seok, CEO of Towoo Construction, Lim Young-moon, President of SK Construction, and Lee Si-jong, Governor of Chungbuk Province, are holding the agreement document and posing for a commemorative photo. (Photo by SK Construction)

[Asia Economy Reporter Lee Chun-hee] SK Engineering & Construction and Towoo Construction announced on the 11th that they signed an investment agreement worth 260 billion KRW on the 10th with Chungbuk Province and Jincheon County for the development of the 'Jincheon Megapolis Industrial Complex.'

About 20 officials, including Lim Young-moon, President of SK Engineering & Construction, Kim Sa-seok, CEO of Towoo Construction, Lee Si-jong, Governor of Chungbuk Province, and Song Ki-seop, Mayor of Jincheon County, attended the signing ceremony and agreed to mutually cooperate throughout the project.

The Jincheon Megapolis Industrial Complex, to be developed by SK Engineering & Construction and Towoo Construction, will cover an area of 1,395,591㎡ in Munbaek-myeon, Jincheon County, Chungbuk Province. The target completion year is 2026. It is evaluated to have excellent transportation networks, with the Jungbu Expressway and National Road No. 17 passing nearby, and Cheongju International Airport only 20 minutes away.

Once completed, the industrial complex is expected to create 3,200 jobs and generate a production inducement effect of 1.1848 trillion KRW, contributing to the revitalization of the local economy and strengthening Chungbuk's competitiveness.

SK Engineering & Construction and Towoo Construction plan to strive for investment fulfillment and expansion, as well as to promote local economic revitalization through purchasing local materials and prioritizing the hiring of local residents. Chungbuk Province and Jincheon County will provide administrative support to ensure the smooth progress of the new industrial complex development project.

Previously, SK Engineering & Construction successfully completed the 'Chungju Megapolis Industrial Complex,' which was completed in 2016. This complex, the largest in the Chungbuk area, was developed on a 1,811,000㎡ site in Judeok-eup, Chungju City, Chungbuk Province. It is a public-private joint development project with a total investment of 251 billion KRW and is currently operating smoothly.

Lim Young-moon, President of SK Engineering & Construction, said, "Through this agreement ceremony, we have taken the first step toward successfully carrying out the Jincheon Megapolis Industrial Complex development project," adding, "Based on our experience and capabilities in successfully completing numerous industrial complex development projects, we will also successfully execute this project."

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