Gangneung City, Gangwon Special Self-Governing Province, LH, and Gangwon Development Corporation Sign Basic Agreement
On September 15, Gangneung City in Gangwon Province signed a basic agreement with Gangwon Special Self-Governing Province, Korea Land & Housing Corporation (LH), and Gangwon Development Corporation to establish the Gangneung Natural Product Bio National Industrial Complex.
This agreement was conducted in writing and is regarded as an important step in finalizing the blueprint for the successful development of the industrial complex.
According to the agreement, Korea Land & Housing Corporation will oversee project implementation and licensing, while Gangwon Special Self-Governing Province and Gangneung City will be responsible for administrative support. Gangwon Development Corporation will handle development and support work reflecting regional characteristics, with each institution sharing roles accordingly. Through this collaboration, Gangneung City aims to strengthen the momentum behind the establishment of the industrial complex.
With this agreement as a starting point, the city has set a goal to pass the preliminary feasibility study by the Ministry of Economy and Finance by 2026, and plans to accelerate the project by streamlining subsequent administrative procedures. Notably, as more than 270 companies have already expressed interest in moving in, the city is actively working to attract companies and convert this initial interest into substantial investment, rather than simply securing expressions of intent.
Gangneung Mayor Kim Hongkyu stated, "This agreement is a solid starting point for the successful establishment of the Natural Product Bio National Industrial Complex. Through close cooperation with participating organizations, we will not only expedite the preliminary feasibility study and official designation of the national industrial complex, but also drive corporate investment and job creation, so that Gangneung can become the center of the natural product bio industry in Korea."
The city expects that this project will lay the foundation for new growth engines in the region, serve as a cornerstone for fostering future strategic industries, and significantly contribute to revitalizing the local economy and creating jobs.
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