[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Pyeongchon General Industrial Complex in Daejeon is being developed with the goal of completion in 2024. Construction will begin in April this year, with Doosan Heavy Industries & Construction as the contractor.
Daejeon City announced on the 2nd that it will actively promote the Pyeongchon Industrial Complex development project following the final contract signing between Daejeon Urban Corporation and the construction company.
The Pyeongchon Industrial Complex development project involves an investment of 264.9 billion KRW to create a new industrial complex on an 859,000㎡ site covering Pyeongchon-dong, Yongchon-dong, and Maeno-dong areas in Seo-gu, Daejeon.
Along with the development of the Pyeongchon Industrial Complex, the city will also actively attract companies related to 17 industries, including electronic components and other machinery and equipment manufacturing.
Prior to the development of the Pyeongchon Industrial Complex, the city is also constructing an industrial complex access road connecting the complex with Bang-dong in Yuseong-gu (National Road No. 4). Once this road opens, accessibility between Pyeongchon Industrial Complex and Seodaejeon IC and Gyeryong IC will be secured, which is expected to positively impact company attraction, the city anticipates.
The revision of ordinances to raise the support limit for relocating companies is also expected to help attract companies to the Pyeongchon Industrial Complex.
In particular, the city plans to actively attract excellent companies by increasing the support limit for relocating companies from 6 billion KRW to 10 billion KRW per company and providing subsidies for investments using currently owned land.
Ko Hyun-deok, Director of the Job and Economy Bureau of the city, said, “We will strive to expand new industrial infrastructure in the region through the Pyeongchon Industrial Complex development project and new road construction, enabling Daejeon to transform into a new industry city.” He added, “Through this, we expect simultaneous creation of jobs and high added value, revitalizing the local economy.”
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