Gwangyang City Launches Sale of Myeongdang 3 District in Gwangyang National Industrial Complex

Investing in a Business-Friendly Economic City and Opportunity-Rich Industrial Complex

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] Gwangyang City announced on the 8th that Myeongdang 3 District, the last development area within the Taein-dong National Industrial Complex, was finally completed on August 12 last year and is currently available for sale.

Myeongdang 3 District is crossed by National Road No. 2 and National Road No. 59, located 10 minutes from Jinwol IC on the Namhae Expressway and Hadong IC in Gyeongnam Province. It is near POSCO Gwangyang Steelworks, related national industrial complexes associated with steel production, and the Gwangyang Port container terminal, boasting excellent transportation networks and accessibility. This prime location has attracted inquiries for sales applications from local and other regional companies.

The total land area available for sale is 306,686㎡, consisting of 32 industrial facility lots (282,657㎡), 39 support facility lots (15,895㎡), 2 commercial lots (1,431㎡), and 3 parking facility lots (6,703㎡).

Currently, a total of 30 lots (53,944㎡; 7 industrial lots, 21 support lots, 2 commercial lots) have been sold, with a sales rate of 40% based on the number of lots.

The target industries for industrial facility lots include warehouse and transportation-related services (H52), non-metallic mineral product manufacturing (C23), electricity, gas, steam, and air conditioning supply (D35), and complex industries (C23, C24, C25, C29).

The target industries for support facility lots include first and second-class neighborhood living facilities, sales facilities, medical facilities, sports facilities (excluding outdoor golf practice ranges), warehouse facilities, office facilities (limited to officetels), hazardous material storage and handling facilities (such as gas stations), and automobile-related facilities (car washes, parking lots, etc.).

The city is currently conducting a service to customize factory land division and diversify tenant industries through development plan changes in consultation with companies wishing to purchase land. As part of efforts to revitalize the industrial complex early, various supports such as payment of real estate agent commissions and tax reductions are being provided.

Choi Dae-sik, head of the Industrial Complex Division, said, "Although the economy is sluggish due to COVID-19, Myeongdang 3 District is a good investment location where companies and individuals can develop their business ideas," and added, "We hope that the Gwangyang Industrial Complex will be revitalized as soon as possible."

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