Ministry of Industry to Invest 1.2 Trillion Won This Year in Industrial Complex Environmental Improvements

This year, a total of 1.2 trillion KRW will be invested by both the public and private sectors to improve the work and residential environments of industrial complexes nationwide, including the construction of a data center complex facility in Osong, Chungbuk.

On the 6th, the Ministry of Trade, Industry and Energy announced that it will promote seven new projects through the Industrial Complex Environment Improvement Fund this year. The total project cost is approximately 1.2 trillion KRW, including 186.8 billion KRW from the government budget and 1.0717 trillion KRW in private investment.

Projects include the construction of rental dormitories that provide young workers with residential spaces near their workplaces at costs lower than the surrounding market rates, and office complex facilities where workspaces, cultural, sports, and convenience facilities coexist, allowing for work and leisure activities to be addressed in one place.

The Osong Industrial Complex Data Center Complex Development Project and the Seoul Digital Industrial Complex Rental Dormitory Development Project were selected as priority negotiation projects under this year’s Industrial Complex Environment Improvement Fund.

The Ministry of Trade, Industry and Energy launched the Industrial Complex Environment Improvement Fund project in 2011. Until last year, it used 1.1252 trillion KRW of government funds as seed money to attract 7.3746 trillion KRW in private investment, expanding industrial complex infrastructure by building work and convenience facilities to improve the industrial complex environment.

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