ID :
52644
Sat, 03/28/2009 - 16:11
Auther :
Shortlink :
http://m.oananews.org//node/52644
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S. Korea starts work to turn reclaimed tidal flat into manufacturing hub
GUNSAN, South Korea, March 27 (Yonhap) -- South Korea on Friday began work on infrastructure to transform huge tidal flats reclaimed on the country's southwest coast into a new manufacturing hub.
The effort calls for 1.94 trillion won (US$1.44 billion) to be injected until
2018 to set aside 18.7 square kilometers of land for industrial use, the
Saemangeum Gunsan Free Economic Zone (SGFEZ) office said.
It said development of the land will be undertaken by Korea Rural Community
Corp., with 9.3 square kilometers to be built up by 2014. The remaining land will
be developed over the next four years to allow up to 500 businesses to operate
there. Up to 32,000 people may be hired during the construction stage with the
government expecting 190,000 permanent jobs to be created after the region is
fully built.
The site is expected to house manufacturing plants for auto parts, high-tech
components, reusable energy systems and precision machinery. Research and
development centers will also be given space along with support facilities to
attract international commerce.
The SGFEZ said particular emphasis will be made to incorporate ecological parks
around the industrial land and to actively connect the new region with nearby
manufacturing complexes.
It said land will be parceled out to prospective businesses starting in the
second half of next year with the first companies to start operations around
2013.
"The government will do all it can to transform the industrial park into a
future-oriented business hub," said Prime Minister Han Seung-soo, who took part
in the ground breaking ceremony with other government officials.
Because the land is reclaimed from the sea, work must be carried out to
strengthen foundations as well as build necessary infrastructure such as roads to
allow factories to begin operation.
Work to reclaim the tidal flats began in 1991, with government expenditure to
date exceeding 2.4 trillion won. A 33-kilometer sea wall located 280 kilometers
south of Seoul was completed in April 2006 with water being gradually drained
from the area.
Last year the central government announced a masterplan that calls for developing
69.5 percent of Saemangeum's total 401 square kilometers of land by 2020. The
remainder of the land will be kept in reserve. Policymakers claimed Saemangeum's
economic impact will be equivalent to 28.5 trillion won worth of additional
production.
The plan sets aside 30.3 percent for agriculture and 1.6 percent for rural living
space, while 37.6 percent will be allocated for industrial use, international
business centers, scientific research facilities, reusable energy companies and
tourism. A new port is to be built that can facilitate the movement of people and
materials into and across the region.
The government said Saemangeum is ideally situated to engage in trade and
business operations with China, which lies across the Yellow Sea.
yonngong@yna.co.kr
(END)
The effort calls for 1.94 trillion won (US$1.44 billion) to be injected until
2018 to set aside 18.7 square kilometers of land for industrial use, the
Saemangeum Gunsan Free Economic Zone (SGFEZ) office said.
It said development of the land will be undertaken by Korea Rural Community
Corp., with 9.3 square kilometers to be built up by 2014. The remaining land will
be developed over the next four years to allow up to 500 businesses to operate
there. Up to 32,000 people may be hired during the construction stage with the
government expecting 190,000 permanent jobs to be created after the region is
fully built.
The site is expected to house manufacturing plants for auto parts, high-tech
components, reusable energy systems and precision machinery. Research and
development centers will also be given space along with support facilities to
attract international commerce.
The SGFEZ said particular emphasis will be made to incorporate ecological parks
around the industrial land and to actively connect the new region with nearby
manufacturing complexes.
It said land will be parceled out to prospective businesses starting in the
second half of next year with the first companies to start operations around
2013.
"The government will do all it can to transform the industrial park into a
future-oriented business hub," said Prime Minister Han Seung-soo, who took part
in the ground breaking ceremony with other government officials.
Because the land is reclaimed from the sea, work must be carried out to
strengthen foundations as well as build necessary infrastructure such as roads to
allow factories to begin operation.
Work to reclaim the tidal flats began in 1991, with government expenditure to
date exceeding 2.4 trillion won. A 33-kilometer sea wall located 280 kilometers
south of Seoul was completed in April 2006 with water being gradually drained
from the area.
Last year the central government announced a masterplan that calls for developing
69.5 percent of Saemangeum's total 401 square kilometers of land by 2020. The
remainder of the land will be kept in reserve. Policymakers claimed Saemangeum's
economic impact will be equivalent to 28.5 trillion won worth of additional
production.
The plan sets aside 30.3 percent for agriculture and 1.6 percent for rural living
space, while 37.6 percent will be allocated for industrial use, international
business centers, scientific research facilities, reusable energy companies and
tourism. A new port is to be built that can facilitate the movement of people and
materials into and across the region.
The government said Saemangeum is ideally situated to engage in trade and
business operations with China, which lies across the Yellow Sea.
yonngong@yna.co.kr
(END)
