Gyeongbuk-do Yeongcheon Unha Industrial Complex Remodeling ... LH Invests 50 Billion Won in Residential and Convenience Facilities

Ministry of Land, Infrastructure and Transport Selected for 'Industrial Area Revitalization Pilot Project'

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] A 351,000㎡ outdated industrial area in Eonhadong, Yeongcheon-si, Gyeongsangbuk-do is being transformed into an 'Industrial Innovation Hub' equipped with industrial and convenience facilities such as R&D shared offices, corporate promotion facilities, and worker welfare centers.

On the 14th, Gyeongsangbuk-do held a business agreement ceremony at the provincial government office attended by about 40 people including Governor Lee Cheol-woo, Yeongcheon Mayor Choi Ki-moon, LH President Byun Chang-heum, and provincial council members, to promote the 'Eonha Old Industrial Area Revitalization Pilot Project' in cooperation with Yeongcheon City and Korea Land and Housing Corporation (LH).

Earlier, the Ministry of Land, Infrastructure and Transport selected this area as the final winner of the 'Industrial Area Revitalization Pilot Project' in November of the previous year, after a public contest in August. In the Yeongcheon Eonha industrial area, a regional industry support center will be established to foster startups and secure stable manpower.

Gyeongbuk Province plans to complete the detailed industrial development plan and basic design this year and commence phased construction from 2021 to 2025. The site will include shared dormitories (dormitory, guest house, etc.), worker support housing, worker welfare centers, and worker education facilities.

The Eonha industrial area, established in 1979, currently houses factories of 21 manufacturing businesses including automobile parts. Buildings over 30 years old account for 67%, and there are no worker support facilities within the industrial area.

This project is a plan where LH invests 50 billion KRW in funds to secure a facility site of 5,369㎡ and build an anchor facility combining industrial, commercial, residential, and cultural functions.

Gyeongsangbuk-do will first designate the area as an industrial innovation zone and provide active administrative and financial support such as various permits and approvals. Yeongcheon City will support the establishment of industrial area management plans and urban regeneration projects, while LH will invest funds and act as the overall project manager.

Governor Lee Cheol-woo emphasized, "We will expand the industrial area revitalization project across all 23 cities and counties in the province to breathe hope into declining industrial areas, create a productive foundation, induce settlement of local companies, revive jobs and the local economy, and build a new wind of happiness in Gyeongbuk."

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