What Regulations Are Holding Back the 'K-Star World' Being Built in Hanam?

<기사>Korea Federation of SMEs and Hanam City Hold Business-Related Briefing Session

The Korea Federation of SMEs (Chairman Kim Ki-moon) and Hanam City (Mayor Lee Hyun-jae) announced on the 2nd that they held a "Briefing Session on Attracting a Performance Hall to Hanam K-Star World and Creating a Back-up Complex for SMEs" at the Korea Federation of SMEs in Yeouido. This briefing session was a follow-up measure to the "Business Agreement for the Creation of K-Star World" signed by the two organizations last March, during which Mayor Lee Hyun-jae of Hanam explained the progress of the project and plans for creating a back-up complex for SMEs.

Mayor Lee said, "Although the Greenbelt regulations, which were the biggest obstacle, existed, we overcame a major hurdle by collaborating with the Korea Federation of SMEs to bring about a revision of the Ministry of Land, Infrastructure and Transport guidelines. Recently, global entertainment companies such as MSG Company have also shown interest in K-Star World and initially proposed establishing MSG Sphere, but regulations again held us back this time."

Although the revision of the Greenbelt regulations has laid the foundation for site development, Hanam City explained that considerable time is expected to be required for related administrative procedures such as lifting the development restriction zone and designating urban development zones, causing leading overseas companies to hesitate in making investment decisions.

Kim Ki-moon, Chairman of the Korea Federation of SMEs, emphasized, "We will play a role to ensure the project proceeds smoothly," adding, "K-Star World, a high value-added industry, will revitalize the local economy and create a new industrial ecosystem for SMEs, which is meaningful."

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