Cooperation on Saemangeum Sinshiyami Development Project... BS Industry Signs MOU with Jeonbuk Province and Korea Federation of SMEs

Regional Revitalization Investment Fund Application Target Within the Year

BS Industry announced on the 24th that it has signed a business agreement with Jeonbuk Special Self-Governing Province (Jeonbuk Province), the Korea Federation of SMEs, and others to promote the Saemangeum Sinsiyami development project.

The signing ceremony held at the Best Western Hotel in Gunsan, Jeonbuk was attended by Kim Mankyeom, CEO of BS Industry; Kim Kwan-young, Governor of Jeonbuk Province; Kim Ki-moon, Chairman of the Korea Federation of SMEs; Kim Kyungan, Administrator of the Saemangeum Development Agency; and Kang Im-jun, Mayor of Gunsan.

BS Industry signed a business agreement on the 24th at the Best Western Hotel in Gunsan, Jeonbuk with Jeonbuk Provincial Government, Korea Federation of SMEs, Saemangeum Authority, and Gunsan City to successfully promote the Saemangeum Sinsi-yami Development Project. From the left: Kang Im-jun, Mayor of Gunsan; Kim Kwan-young, Governor of Jeonbuk; Kim Ki-moon, Chairman of Korea Federation of SMEs; Kim Kyung-an, Head of Saemangeum Authority; Kim Man-gyeom, CEO of BS Industry. Photo by BS Industry

According to this agreement, BS Industry will establish plans to implement all matters related to the promotion of the development project and to revitalize the local economy. Jeonbuk Province and Gunsan City will support the promotion of the development project, the Korea Federation of SMEs will invest in the development project, and the Saemangeum Development Agency will provide administrative support for regional revitalization.

This signing ceremony was organized to attract a regional revitalization investment fund to Sinsiyami. The regional revitalization investment fund is a system created by the government to rapidly promote large-scale investments led by regional and private sectors. It forms a mother fund based on government finances and the Local Extinction Response Fund contributed by the Korea Development Bank, and invests in regional development projects through contributions from private investors and local governments.

BS Industry expects that if the Sinsiyami development project is selected as a regional revitalization investment fund project, the project promotion will accelerate. Currently, it is in the business feasibility verification stage for fund application and is aiming to apply within this year at the earliest.

Governor Kim stated, “Through this agreement, we look forward to the successful promotion of the Sinsiyami project and hope it will unfold a bright future for Saemangeum.”

A BS Industry official said, “We expect the Saemangeum Sinsiyami development project to get on track through this business agreement,” adding, “We will carry out the project without setbacks to create a premium tourism and leisure complex that attracts domestic and international tourists.”

BS Industry is currently carrying out the “Saemangeum Sinsiyami Tourism and Leisure Land Development Project,” which involves creating leisure and recreational facilities in the center of Saemangeum, home to the world’s longest seawall (33.9 km). It is a leisure tourism complex combining residential, business, commercial, and accommodation functions, and through the Sinsiyami development project, BS Industry plans to introduce a new form of second house.

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