Gyeongbuk Development Corporation Holds Meeting
1.18 Million Square Meters, Completion Targeted for 2028
Gyeongbuk Development Corporation (President Lee Jaehyuk) announced that it held the "Yeongju Advanced Bearing National Industrial Complex and Regional Economic Revitalization Meeting" on September 11. This meeting was organized to discuss ways to expand the participation of local specialized construction companies in subcontracting and to boost the local construction economy, as the development of the Yeongju National Industrial Complex is now in full swing.
The meeting was attended by Cho Youngcheol, Executive Director of the corporation, as well as executives and site representatives from Ace Construction, the main contractor. The agenda included expanding subcontracting opportunities for local specialized construction companies, prioritizing the use of locally produced materials and equipment, and addressing suggestions related to the development project.
Gyeongbuk Development Corporation requested that the main contractor provide more opportunities for local specialized construction companies to participate in subcontracting, and urged efforts to ensure that the economic ripple effects generated during the development process are circulated within the local community. The corporation also announced its plan to actively incorporate measures for revitalizing the regional economy and suggestions from regular meetings with the contractor as it moves the project forward.
The Yeongju Advanced Bearing National Industrial Complex is a large-scale national industrial complex project with a total investment of approximately 300 billion won, being developed on about 1.18 million square meters in the Jeokseo-dong area of Yeongju. The project aims for completion in 2028 and is being jointly carried out by five companies: Ace Construction Co., Ltd. (the lead company), Myungga General Construction Co., Ltd., Shinil Co., Ltd., Sehwan Construction Co., Ltd., and KBI Construction Co., Ltd.
Cho Youngcheol, Executive Director of Gyeongbuk Development Corporation, stated, "The Yeongju National Industrial Complex is not just a simple civil engineering project; it is a public interest initiative closely linked to the regional economy. Therefore, we are prioritizing mutual growth with local companies as our top objective." He added, "We will do our utmost to ensure that tangible economic benefits, such as revitalizing the local construction economy and creating jobs, are circulated within the region through the participation of local specialized construction companies and the prioritization of locally produced materials."
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