Gyeongju City Launches Foundation Work for Geomdan and Myeonggye Industrial Complexes... Secures Additional 35 Billion KRW in National Funding
Target Completion by End of Next Year... Construction of Access Roads and Water Supply Infrastructure
[Asia Economy Yeongnam Reporting Headquarters, Reporter Park Dong-wook] Gyeongju City, Gyeongsangbuk-do announced on the 24th that it has secured 35 billion KRW in national funding to actively promote infrastructure support projects for the Geomdan and Myeonggye 3 General Industrial Complexes.
The Geomdan General Industrial Complex and Myeonggye 3 Industrial Complex, which were approved consecutively in 2014 and 2016, currently show a progress rate of about 60% each. Gyeongju City has secured a total of 35 billion KRW in national funding, including 10.7 billion KRW in 2020 and 24.3 billion KRW in 2021, for infrastructure such as access roads and industrial water supply, aiming for completion in 2021.
The Geomdan and Myeonggye 3 General Industrial Complexes are being developed on a 1.75 million square meter site with an average of 75% real demand development method for industrial facilities. Upon completion of the industrial complexes, it is expected to create synergy effects by linking with about 70 companies and 350 jobs, as well as the steel industry in Pohang, an industrial hub city, and the automobile and heavy industry sectors in Ulsan, according to Gyeongju City's expectations.
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A Gyeongju City official stated, "So far, we have secured a total of 99.1 billion KRW in national funding for infrastructure (roads and water supply) in eight industrial complexes," adding, "Once the access roads and industrial water supply for the Geomdan and Myeonggye 3 General Industrial Complexes are completed, it is expected that the industrial complex sales will be revitalized through rapid accessibility and active support of infrastructure."
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