Changwon Special City, On-site Inspection of Project Progress at Self-sufficient Complex Administrative Town

Jomyeongrae, 2nd Deputy Mayor, Urges to Prevent Safety Accidents for Nearby Residents

On the 6th, Jo Myung-rae, the 2nd Deputy Mayor of Changwon Special City, Gyeongnam, inspected the site of the Changwon Self-Sufficient Complex Administrative Town Urban Development Project, one of the major projects in the district, in celebration of the Lunar New Year.

Jomyeongrae, the 2nd Deputy Mayor, is conducting an on-site inspection of the self-sufficient complex administrative town.

The site visit was conducted ahead of the Lunar New Year holiday to check for any wage arrears among partner companies and the progress of the project, as well as to inspect the site management conditions due to the rain that started last weekend and to ensure that there were no safety accidents among nearby residents by examining surrounding facilities.

The Changwon Self-Sufficient Complex Administrative Town Urban Development Project is a project to develop a site combining administrative and residential functions on a 715,587㎡ area in Hoeseong-dong, Masanhwoe-gu, with a project cost of 626.9 billion KRW to be invested by 2026.

Once the site development is completed, 13 public institutions including Masanhwoe-gu Office, Hoewon Fire Station, Changwon District Court Masan Branch, and Changwon District Prosecutors' Office Masan Branch are scheduled to be established.

Up to last year, land sale contracts were pursued for a total of five plots including Masanhwoe-gu Office, Hoewon Fire Station, KEPCO KDN, Changwon District Court Masan Branch, and residential complex sites (Blocks 1 and 2), and negotiations are also underway for land sale procedures for public facility sites. Once the land sale procedures are completed in 2026, the soundness and public nature of the project can be secured.

Currently, the construction company Taeyoung Construction has entered workout proceedings, and the creditors' council has passed a resolution. The major creditors of the Changwon Self-Sufficient Complex Administrative Town have also convened a voluntary council, and an on-site inspection by a credit rating agency selected by the creditors and the preparation of a project normalization plan are underway.

Deputy Mayor Jo said, “We will focus the administrative power that the city can provide to support the prompt sale of public institution sites and daily site situation checks to ensure the normal progress of the project.”

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