Sacheon City, Public Rental Knowledge Industry Center Construction Project Progressing Smoothly

Feasibility Approved by Ministry of SMEs and Startups
Securing Momentum for Building Space Industry Cluster and Aerospace Complex City

The construction project for the Sacheon City Public Rental Knowledge Industry Center, which will become a core part of Korea's aerospace industry, is progressing smoothly.

According to Sacheon City, Gyeongnam Province, on the 28th, the "Sacheon City Public Rental Knowledge Industry Center Construction Project" linked to the space industry cluster passed the feasibility evaluation by the Ministry of SMEs and Startups on the 27th.

This is believed to be due to the review of economic feasibility and ripple effects, based on the additional demand for companies to move into the Satellite Development Innovation Center following the designation of the space industry cluster's satellite-specialized zone.

Perspective View of Sacheon City Public Rental Type Knowledge Industry Center

In particular, it is reported that the plan to foster the region's key industry, aerospace, as an inter-ministerial cooperation project between the Ministry of Science and ICT and the Ministry of SMEs and Startups, received high marks.

The city plans to complete administrative procedures such as the central investment review this year and focus on securing the budget next year.

The Sacheon City Public Rental Knowledge Industry Center project aims to provide a hub space for nurturing SMEs related to the opening of the Korea Aerospace Administration, advancing and innovating the local aerospace industry, and supporting startups in the space industry.

It will be built on a 7,000㎡ site (375 Tongyang-ri, Yonghyeon-myeon, Sacheon City) within the Gyeongnam National Aviation Industry Complex, with one basement floor and five above-ground floors, a building area of 1,928㎡, and a total floor area of 9,100㎡.

The total project cost is 30 billion KRW (16 billion KRW from the national government and 14 billion KRW from the local government), and the project period is from 2025 to 2028.

The city expects that the construction of the Knowledge Industry Center will accelerate the promotion of the space industry cluster centered on the establishment of the Satellite Development Innovation Center and the creation of an aerospace complex city.

Mayor Park Dongsik said, "With the Knowledge Industry Center construction project, which can be considered one of the key elements of the space industry cluster, passing the feasibility evaluation by the Ministry of SMEs and Startups, we have secured a new growth engine to drive future regional development. We will focus our administrative efforts to ensure the momentum for creating an aerospace complex city."

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