Government to Invest 1.5 Trillion Won in Areas Surrounding US Military Bases This Year
Ministry of the Interior and Safety Finalizes 2021 Business Plan for Comprehensive Power Development Plan... 111 Projects to be Implemented
[Asia Economy Reporter Lim Cheol-young] The government will invest a total of 1.5035 trillion KRW, combining national funds, local funds, and private capital, in 111 projects this year to support areas surrounding U.S. military bases in Korea.
On the 25th, the Ministry of the Interior and Safety announced the "2021 Project Plan for the Comprehensive Development Plan for Areas Surrounding U.S. Military Bases in Korea" and stated that it will carry out the projects in cooperation with six ministries including the Ministry of Land, Infrastructure and Transport and the Ministry of Science and ICT. The "Comprehensive Development Plan for Areas Surrounding U.S. Military Bases in Korea" (hereafter referred to as the Development Plan) is a government-wide cooperative project aimed at developing surrounding areas where regional development has been restricted due to the establishment of U.S. military bases.
The government established the Development Plan in 2008 and has supported 433 projects with 13.0105 trillion KRW until last year. It plans to carry out a total of 526 projects worth 46.4697 trillion KRW over 15 years until 2022. This year's project scale includes support for 111 projects with 173.3 billion KRW in national funds, 183.8 billion KRW in local funds, and 1.1464 trillion KRW in private investment, totaling 1.5035 trillion KRW, which is an increase of 210.9 billion KRW compared to last year's 1.2926 trillion KRW.
By sector, the projects are divided into three categories: support for land acquisition costs in returned military base areas, development of returned military base areas, and development of surrounding areas of (returned) military base areas. The government will first invest 70 billion KRW this year for land acquisition costs needed for three projects, including the creation of the Incheon Camp Market base history and cultural park and the establishment of public sports facilities at Paju Camp Howze base with 8.1 billion KRW.
A total of 324 billion KRW will be invested in 15 projects for the development of returned military base areas, including the Uijeongbu Camp LaGuardia urban development project with 90 billion KRW and the Hwaseong (Kuni Air Ranger) Maehyang-ri Peace Ecological Park creation project with 9.5 billion KRW. Additionally, 1.1095 trillion KRW will be invested in 93 projects for the development of surrounding areas, such as the creation of the Yangju Eunnam general industrial complex in Gyeonggi with 59.4 billion KRW and the installation and maintenance of infrastructure on Gunsan Airport Road in Jeonbuk with 5.1 billion KRW.
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Jeon Hae-cheol, Minister of the Ministry of the Interior and Safety, said, "Until now, areas surrounding U.S. military bases have had to endure stagnation in regional development due to various regulations justified by national security," and added, "We will strive to revitalize the areas surrounding U.S. military bases through continuous government support and private investment."
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