Yangju City, Developer, and Residents Reach Agreement
Okjeong Logistics Warehouse Site 2 to Be Converted to Residential Use
On the 26th, Yangju City in Gyeonggi Province signed a memorandum of understanding in the mayor's office at city hall to cancel the Okjeong Logistics Warehouse Site 2 project and promote its change of use.
Suhyun Kang, Mayor of Yangju City (center), is signing a memorandum of understanding in the mayor's office at the city hall on the 26th to cancel the Okjeong Logistics Warehouse Site 2 project and promote its change of use. Provided by Yangju City
The signing ceremony was attended by Yangju City, GL Okjeong PFV Co., Ltd., the developer of the Okjeong Logistics Warehouse, and representatives of the Citizens’ Committee Against the Logistics Warehouse. They agreed to establish a cooperative framework to cancel the logistics warehouse project and convert the site to residential use.
This memorandum of understanding was concluded based on the results of ongoing discussions regarding the change in direction for the Okjeong Logistics Warehouse Site 2 project. Its purpose is to facilitate the procedures for the project’s transition through cooperation among the parties involved.
According to the agreement, the developer will cancel the logistics warehouse project on the site and carry out the necessary procedures for its conversion to residential use, such as changes to the district unit plan. Yangju City will cooperate to ensure that administrative procedures proceed smoothly in accordance with the law, and the parties agreed to continue discussions regarding any traffic and safety issues that may arise during the project transition process.
Mayor Suhyun Kang of Yangju City stated, "This agreement provides a foundation for systematically advancing the administrative procedures related to the project transition," adding, "We plan to proceed with the relevant procedures without delay in accordance with laws and principles."
Jo Kyungkwang, CEO of the developer, said, "We will cooperate with the project transition process, taking into account local conditions." The resident representatives who attended also expressed their support for the project transition.
Meanwhile, with the signing of this memorandum of understanding, the operation of the Citizens’ Committee Against the Logistics Warehouse will be discontinued. Yangju City plans to continue discussions with local residents regarding public contribution measures related to the project transition.
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