Hamyang-gun Signs Agreement for Implementation of 'Gyosan District Urban Development Project'

Stable Residential Land Supply and Coupang Logistics Center Operation Lay Foundation for Population Decline and Regional Imbalance Resolution

Seo Chunsu, Mayor of Hamyang County, is signing an agreement for the Gyosan District Urban Development Project. (Photo by Hamyang County)

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Hamyang-gun, Gyeongnam Province announced on the 8th that it signed an implementation agreement with Gyeongnam Development Corporation for the development of the ‘Hamyang Gyosan District Urban Development Project’ at the small conference room of the county office.

The signing ceremony was attended by Seo Chun-soo, Mayor of Hamyang-gun, Lee Nam-du, President of Gyeongnam Development Corporation, and officials from both organizations, and was conducted in strict compliance with quarantine rules to prevent the spread of the novel coronavirus infection (COVID-19).

The project site covers approximately 130,000㎡ in the Gyosan-ri area of Hamyang-eup, with a project cost of about 44.9 billion KRW. The plan is to complete everything from land use planning to sales by 2025. In particular, residential land, commercial land, and office land will be supplied through public development.

It is also predicted that upon successful completion of the project, about 1,400 people will reside in the area, with 561 units of apartment housing, 69 units of detached houses, and commercial facilities being established.

According to the agreement, the county will support administrative tasks such as permits and approvals to ensure the smooth progress of the Hamyang Gyosan District Urban Development Project, and Gyeongnam Development Corporation will strive to expedite compensation, construction, and sales.

Seo Chun-soo, Mayor of Hamyang-gun, said, “It is essential to sign an implementation agreement with Gyeongnam Development Corporation, a public enterprise of the province, for the planned and systematic promotion of the Hamyang Gyosan District Urban Development Project. Since the site is close to the planned logistics center of Coupang, a leading domestic e-commerce company, once Coupang’s construction and operation are in full swing, it will contribute greatly to economic revitalization by timely providing quality jobs and comfortable housing demand.”

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