Gwangyang Economic Zone Authority Announces Public Recruitment for Private Developers of Haeryong Industrial Complex

Full Effort to Secure Industrial Complex Sites for Revitalizing Tenant Company Attraction

Haeryong General Industrial Complex Phase 2-2

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sang-rak, hereinafter referred to as Gwangyang Economic Authority) announced the "Public Contest for Selection of Private Development Operator" for the implementation of the Haeryong General Industrial Complex (Phase 2-2) project.

This contest is to select an alternative developer following the cancellation of the designation of the Haeryong General Industrial Complex (Phase 2-2) project operator ((Daewoo Construction Co., Ltd.) on April 20, 2022. The development area is 608,224㎡, and the process will proceed in the order of ▲project announcement ▲submission of project proposals ▲proposal evaluation ▲selection of private development operator.

Additionally, the contest reflects the appropriate profit margin for the project operator and reinvestment plans for development profits exceeding that margin, which were coordinated with the Ministry of Land, Infrastructure and Transport and the Ministry of Trade, Industry and Energy, and incorporated through legal counsel advice.

Recently, the Ministry of Trade, Industry and Energy announced on February 14 that it will focus on creating an ecosystem for the Gwangyang Economic Authority's core strategic projects (such as expanding the production scale of cathode materials, attracting new precursor factories, and linking with local research institutes to establish a secondary battery production base), preparing industrial complex sites, and revitalizing the attraction of tenant companies by linking with nearby industrial complexes in the Gwangyang Bay Area.

A Gwangyang Economic Authority official stated, "We hope to promptly secure industrial complex sites for creating a carbon-neutral industrial ecosystem and that private development will help the construction economy in the Gwangyang Bay Area recover early to pre-COVID-19 levels."

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

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