S. Korea starts work to turn reclaimed tidal flat into manufacturing hub
- 관리자
- 2009.03.30
- Hit 4378
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.
From YonhapNews(http://english.yonhapnews.co.kr)