Yangpyeong County's 19-Year Dream: "Yangdong General Industrial Complex" Finally Passes Central Investment Review

Yangpyeong County Accelerates Regional Balanced Development
23.8 Billion Won Invested... Job Creation and Local Growth Expected

Yangpyeong County in Gyeonggi Province (Governor Jeon Jinseon) announced on the 20th that the "Yangdong General Industrial Complex" passed the central investment review by the Ministry of the Interior and Safety on the 17th, following the approval of the industrial complex plan by the Ministry of Land, Infrastructure and Transport on July 4.

Yeoengpyeong County Office View. Provided by Yeoengpyeong County

The central investment review is a system that comprehensively examines the necessity, feasibility, and fiscal soundness of large-scale projects funded by local governments. The approval of this review is significant, as it officially recognizes the administrative feasibility and financial stability of the Yangdong Industrial Complex development project.

Yangpyeong County has long faced difficulties in expanding its industrial infrastructure due to overlapping regulations, such as the Capital Region Readjustment Planning Act. Under these challenging circumstances, the establishment of an industrial complex has been urgently needed. In response, the county has continuously worked to secure industrial sites and assess the feasibility of the project.

This project will be implemented through a public development partnership with Gyeonggi Housing and Urban Development Corporation in October 2024, with a total project cost of approximately 23.8 billion won. The industrial complex will be developed in the Yangdong-myeon area, covering less than 60,000 square meters.

With the creation of the Yangdong General Industrial Complex, Yangpyeong County expects to expand its currently insufficient supply of industrial land, improve industrial demand, and lay the foundation for job creation, thereby securing a core basis for sustainable regional growth.

Jeon Jinseon, Governor of Yangpyeong County, stated, "The development of the Yangdong General Industrial Complex is not simply about building industrial facilities; it is about creating jobs and a foundation for the lives of our residents. With the approval of this review, we will inject new vitality into the region and meticulously manage every step of the process, from establishing the development plan to obtaining permits, to ensure the successful completion of the industrial complex."

He added, "I would like to express my deep gratitude to National Assemblyman Kim Seongyo for his special interest and support in helping this industrial complex project gain final approval."

Meanwhile, Yangpyeong County plans to proceed with the project by establishing a development plan for the industrial complex, holding public briefings for residents, conducting environmental impact assessments, and completing all administrative procedures to obtain approval for the industrial complex plan, with the goal of completing the project by 2030.

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