50% Reduction in Design and Supervision Fees for Expansion and Reconstruction of Yeongcheon Fire-Damaged Companies... Business Agreement Signed by Free Economic Zone Authority, Tenant Companies, and Architects Association

On the morning of September 2, at 11:00 a.m., the Daegu-Gyeongbuk Free Economic Zone Authority (Director Kim Byungsam) signed a business agreement to support fire damage recovery with the Yeongcheon Regional Architects Association of the Gyeongbuk Architects Association (Chairman Kim Museop) and the Tenant Companies Association of the Yeongcheon Advanced Parts and Materials Industrial Complex (Chairman Kim Hwansik) in the conference room of Hanzhong NCS.

This agreement is a follow-up measure to facilitate mutual cooperation for the early restoration of the complex, including repairs and major renovations of neighboring company factory buildings damaged by the fire (explosion) at Daedal Industry within the complex on August 3.

Kim Hwansik, CEO of the Tenant Companies Association (left), Kim Byungsam, Director of the Daegu-Gyeongbuk Free Economic Zone Authority (center), and Kim Museop, Chairman of the Yeongcheon Architects Association, are posing for a commemorative photo holding the business agreement.

Immediately after the incident, the Daegu-Gyeongbuk Free Economic Zone Authority held two emergency response meetings with Yeongcheon City Hall, the Daegu-Gyeongbuk Regional Office of SMEs and Startups, the Korea SMEs and Startups Agency, banks, and credit guarantee institutions, bringing together regional financial institutions. They established financial and administrative support measures, such as emergency management stabilization funds for affected companies, and are working hard to quickly restore normal operations in the complex.

The Authority determined that the fire (explosion) at the Yeongcheon Advanced Industrial Complex required urgent disaster recovery measures and quickly implemented preliminary actions, such as streamlining the administrative procedures for building permits for affected companies. With the swift and proactive cooperation of the Yeongcheon Regional Architects Association and in partnership with Yeongcheon City, they are contributing significantly to the normalization of business operations by promptly repairing and reconstructing damaged buildings, conducting structural safety inspections, and restoring factory operations.

The main content of the business agreement is to provide up to a 50% reduction in architectural design and supervision fees for permits related to the expansion, reconstruction, rebuilding, or major renovation of factory buildings damaged by the explosion. This cost reduction is expected to greatly help stabilize the management of small and medium-sized enterprises by facilitating the swift recovery of affected companies.

Kim Hwansik, Chairman of the Tenant Companies Association, said, "I am deeply grateful for the quick response and proactive support from the Free Economic Zone Authority and the Yeongcheon Regional Architects Association," and added, "Their efforts to expedite normalization make me feel both thankful and proud as an entrepreneur in Yeongcheon."

Director Kim Byungsam stated, "Until the recovery is complete and the complex is fully normalized, we will thoroughly check all related matters and do our utmost to work closely with relevant agencies to ensure that no aspect of the response is neglected."

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