Suwon City Secures 7,680㎡ Allocation for Factory Construction Over the Next 3 Years

Suwon City Hall

The city of Suwon in Gyeonggi Province has secured an allocation of 7,680㎡ for factory construction over the next three years.

On the 27th, Suwon City announced that Gyeonggi Province recently announced the 'Total Allowable Factory Construction Volume for 2024-2026' and allocated 7,680㎡ of factory construction volume to Suwon. This is a significant increase compared to the allocation of 350㎡ for 2021-2023.

Earlier, Suwon City conducted a corporate demand survey through the '2023 Factory Operation Status Survey' and requested Gyeonggi Province to allocate the total allowable factory construction volume for 2024-2026 based on this.

With the secured factory construction allocation, Suwon City can approve the establishment or expansion of individual site factories (factory construction area of 500㎡ or more) within the total allowable volume under the 'Act on the Promotion of Industrial Clusters and Factory Establishment.'

Previously, the limited factory construction volume allocated to Suwon restricted the establishment and expansion of factories by local companies. However, with the significantly increased volume secured this year, it is expected that the production capacity of local manufacturers will be strengthened.

A Suwon City official stated, "We will provide administrative support to ensure that local companies can smoothly proceed with the factory establishment permit procedures and actively work to attract new factories," adding, "Securing the factory construction allocation is expected to contribute to revitalizing the local economy of Suwon City, which is promoting a major economic transformation."

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