On the 19th at 2 p.m., Busan City signed a memorandum of understanding (MOU) with Poongsan and Busan Urban Corporation at the city hall video conference room for the relocation of the Poongsan Busan plant.
At the signing ceremony, Mayor Park Hyung-jun, Poongsan Chairman Ryu Jin, and Busan Urban Corporation President Kim Yong-hak attended and personally signed the MOU.
This MOU signing was arranged to pledge mutual cooperation among related organizations for the relocation of the Poongsan Busan plant, which is the final task for promoting the Centum 2 District Urban High-tech Industrial Complex development project.
The Centum 2 District Urban High-tech Industrial Complex development project is a project to create a ‘Busan-style Pangyo Technovalley’ focused on the 4th industrial revolution industries such as information and communication technology (ICT), knowledge services, film and video content, and convergence parts and materials industries by investing 2.2213 trillion KRW in an area of 1.91 million square meters in Banyeo, Bansong, and Seokdae areas of Haeundae-gu, unlike industrial complexes developed mainly for manufacturing on the outskirts of the city.
Since the Poongsan Busan plant occupies about half of the development site, securing an alternative site and relocating the plant was the most important task.
According to the MOU signed that day, the city and Busan Urban Corporation will actively support administrative procedures such as permits for the relocation of the Poongsan Busan plant, and Poongsan will actively strive for the relocation of the plant and public contributions for regional development.
In the future, if Poongsan submits a letter of intent to invest in the industrial complex at the relocation site within the region, the city plans to do its best to facilitate the relocation process by promptly implementing the relocation procedures applying the ‘Special Act on Simplification of Industrial Complex Permit Procedures’ to smoothly promote the plant relocation.
The city expects the Centum 2 District Urban High-tech Industrial Complex to be established as a representative startup hub in the southern region that responds to the startup ecosystem centered in the metropolitan area and creates quality jobs for young people, becoming a growth base leading Busan’s future.
It is also expected to lead changes in surrounding areas such as the relatively aging Geumsa Industrial Area and Banyeo and Bansong areas.
Mayor Park Hyung-jun said, “I expect that the signing of this MOU will accelerate the Centum 2 District Urban High-tech Industrial Complex development project, and we plan to start full-scale development such as the commencement of the first phase of the project within this year.” He added, “Our city will continue to make every effort so that the Centum 2 District Urban High-tech Industrial Complex can play a key role in leading Busan’s advanced new growth industries and advancing as a global hub city.”
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