First in the Nation to Implement Land Substitution Method... Rapid Project Progress Expected
Cheonan Susin General Industrial Complex, the first nationwide to be promoted using the land readjustment method, was conditionally approved by the Chungcheongnam-do Industrial Complex Planning Review Committee.
Cheonan City in Chungnam Province announced on the 16th that the Sushin General Industrial Complex, which is being promoted for the first time in the country using the land readjustment method, has been conditionally approved by the Chungcheongnam-do Industrial Complex Planning Review Committee.
The Sushin General Industrial Complex is a project aiming for completion in 2026, with an investment of 418.8 billion KRW. It will be established in the areas of Haejeong and Baekja-ri in Sushin-myeon, and Bongyang-ri in Seongnam-myeon. The city expects the completion of the industrial complex to create 3,700 new jobs.
The Sushin General Industrial Complex is the first industrial complex development in the country to use the land readjustment method. The project is being carried out by the Cheonan Sushin General Industrial Complex Development Cooperative, which was formed by landowners. Unlike other industrial complex projects, there is no need to separately acquire land within the project site, so the project is expected to proceed quickly.
The Chungnam-do Industrial Complex Planning Review Committee recently gave conditional approval for the project, stipulating requirements such as the prior cancellation of designated district unit planning areas within certain project zones and the expansion of surrounding roads.
Cheonan City plans to review the project implementer's action plan in response to the review results and the fulfillment of pre-approval requirements before granting final approval for the project.
Mayor Park Sangdon stated, "The Sushin Industrial Complex will not only include industrial facilities but also residential and support facilities, creating a mixed-use industrial complex that will improve the residential environment in the eastern area and establish a large-scale industrial base. We will spare no administrative support to ensure the successful development of the industrial complex for the balanced development of Cheonan City."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
