Nonsan Defense National Industrial Complex Development Project on Track... Approved by Ministry of Land, Infrastructure and Transport
Chungnam Province Begins Compensation Procedures... Move-in Starts in 2027
Leveraging Defense Industrial Complex, Chungnam Leads Defense Industry
The Chungnam Nonsan Defense National Industrial Complex (hereinafter referred to as the Defense Industrial Complex) development project is getting on track.
Chungnam Province announced on the 26th that it has received final approval for the Defense Industrial Complex development plan from the Ministry of Land, Infrastructure and Transport. This is the result after two years since applying for the approval of the Defense Industrial Complex plan, and Chungnam Province plans to start the compensation process this year and proceed with the full-scale project.
The project will be implemented by the Korea Land and Housing Corporation, investing a total of 160 billion KRW to develop a Defense Industrial Complex focused on power support systems (non-weapon) on a site of 870,177㎡ (260,000 pyeong) in Dongsan-ri and Jukbon-ri, Yeonmu-eup, Nonsan-si, Chungnam. The creation of a non-weapon-centered Defense Industrial Complex is the first case nationwide in Nonsan.
Chungnam Province plans to establish a Defense Venture Center in the Defense Industrial Complex to foster small and venture companies related to defense, and from 2027, it will accommodate future advanced defense industry companies and research institutions.
The southern region of Chungnam (including Nonsan) currently hosts a concentration of defense-related institutions such as the Army, Navy, and Air Force Headquarters, Army Training Center, and the Korea National Defense University, as well as universities and research institutions. The availability of abundant human and material resources makes Chungnam an optimal location for fostering new industries such as defense and security.
Chungnam Province also attracted the Defense Future Technology Research Center under the Agency for Defense Development (ADD) in June last year.
Hot Picks Today
As Samsung Falters, Chinese DRAM Surges: CXMT Returns to Profit in Just One Year
- "Most Americans Didn't Want This"... Americans Lose 60 Trillion Won to Soaring Fuel Costs
- Man in His 30s Dies After Assaulting Father and Falling from Yongin Apartment
- Samsung Union Member Sparks Controversy With Telegram Post: "Let's Push KOSPI Down to 5,000"
- "Why Make Things Like This?" Foreign Media Highlights Bizarre Phenomenon Spreading in Korea
Kim Tae-heum, Governor of Chungnam Province, said, “The establishment of the Defense Industrial Complex and the attraction of defense-related public institutions are major pledges of the 8th local government administration. The approval of the Defense Industrial Complex development plan will lay the foundation for Chungnam to take a step closer to completing the Defense Capital.” He added, “Chungnam Province will strive to ensure that Nonsan leads South Korea’s defense industry and becomes a mecca for defense education, industry, and defense innovation.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.