[Asia Economy Reporter Moon Jiwon] Korea Land and Housing Corporation (LH) announced on the 23rd that it will supply 102 industrial facility sites in the Gwangju Bitgreen National Industrial Complex by lottery.
The area of the industrial facility sites supplied this time ranges from 2,037 to 14,807㎡, with a supply price of about 820,000 KRW per 3.3㎡. This is 22% cheaper compared to the nearby industrial complex Pyeongdong 3rd phase (1,050,000 KRW) and 40% cheaper compared to Nam-gu Urban High-tech (1,360,000 KRW).
The payment condition is interest-free installments for up to 5 years, with payments divided at 6-month intervals. If payment is made in advance, the supply price can be reduced by up to 6.2%.
The Bitgreen National Industrial Complex covers an area of 4,071,000㎡. In December last year, construction began on the Gwangju-type job complete vehicle production plant, a win-win regional job leading model within the complex. After completing the annual production line of 100,000 units in April next year, it plans to produce 70,000 compact SUVs from the second half of the year.
Also, under the supervision of Gwangju City, construction of the Industrial Convergence Campus and Corporate Research Center will begin in October, and two centers for eco-friendly vehicle parts technology development are scheduled to be completed by June next year.
In terms of transportation, it is located 19 minutes (14.6 km) from Gwangju Airport, 34 minutes (31.2 km) from Muan International Airport, and 20 minutes (12.7 km) from Honam Line Songjeong-ri Station, offering excellent accessibility to air and rail facilities.
The supply procedure is jointly conducted by Korea Industrial Complex Corporation (KICOX) and LH. KICOX handles procedures related to tenancy, while LH is responsible for contract and supply-related procedures.
Applications for tenancy will be accepted by KICOX on the 6th and 7th of next month, followed by screening. Then, on the 13th and 14th, LH Subscription Center will accept sales applications and conduct the lottery. Winners will sign tenancy contracts with KICOX on the 20th and then sign sales contracts with LH on the 23rd.
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