Designation of 'Asan Tangjeong 2 District' Urban Development Zone Completed, Project Accelerates

Overview of Asan Tangjeong 2 District Urban Development Zone Designation. Provided by Chungnam Province

[Asia Economy (Naepo) Reporter Jeong Il-woong] Chungnam Province announced on the 26th that the designation plan for the Asan Tangjeong 2 District urban development zone has been finally notified by the Ministry of Land, Infrastructure and Transport, marking the official start of the project.

According to the province, Asan Tangjeong 2 District passed the review by the Central Urban Planning Committee of the Ministry of Land on the 23rd of last month, followed by the Central Land Expropriation Committee review on the 6th of this month. This means the first step for urban development has been set.

Accordingly, the province plans to establish the project plan by next year, obtain approval for the implementation plan, start construction in 2023, and complete the urban development by 2027.

The project focuses on developing Asan Tangjeong 2 District into an advanced industrial cluster linked with Samsung Display Industrial Complex and the Cheonan-Asan Research and Development Complex.

In particular, the province plans to supply various types of housing in Asan Tangjeong 2 District to support the attraction of excellent talent in research and development and advanced industries, drawing a blueprint for growth as a northern Chungnam growth hub city where ‘industry-residence-research’ are integrated.

The total project cost to be invested in the Asan Tangjeong 2 District urban development is 1.1266 trillion KRW. The province expects ripple effects of 3.3551 trillion KRW, including 2.5349 trillion KRW in production inducement effects and 820.2 billion KRW in added value inducement effects. Additionally, it is expected to create employment for 16,336 people.

Yang Seung-jo, Governor of Chungnam Province, said, “The province will spare no support so that the Asan New Town can grow into an IT-based hinterland linked with Samsung Display City and the Research and Development Complex, and become a growth hub city in the central region.”

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