Enhancing Competitiveness by Clustering Ship Repair Yards, Boosting the Local Economy
Sale of the 68,661-Square-Meter Hangchon 2 Industrial Complex to Be Promoted via Electronic Bidding
Sacheon-si in South Gyeongsang Province announced on February 5 that it will promote the sale of lots at the "Hangchon 2 General Industrial Complex Industrial Facility Site," developed around 270 Sadeung-dong, Sacheon-si, through an electronic bidding (competitive bidding) process.
The Hangchon 2 General Industrial Complex is an industrial complex created to cluster scattered ship repair yards along the local coastline to enhance their competitiveness, while also promoting revitalization of the local economy and conservation of the marine environment.
It was promoted as a public development project on a total area of 68,661 square meters, with construction starting in September 2019 and completion of development in December 2021.
Overview photo of the industrial facility site at Hangchon 2 General Industrial Complex, Sacheon City
The industrial facility site to be sold this time will be supplied in a total area of 47,354.9 square meters by changing 4,075.3 square meters of internal road area within the industrial complex into industrial facility land. The sale price is 1.28 million won per pyeong, and the total sale amount is approximately 18.4 billion won.
The eligible industries for occupancy are the manufacture of other machinery and equipment (C29) and the manufacture of other transport equipment (C31), and in line with the purpose of reclaiming public waters, the land must be used as a shipbuilding facility site.
In addition, the existing regulation that prohibits any change in the purpose of reclamation within 10 years from the date of completion inspection (December 30, 2021) will remain in effect without change.
The city expects that, through this sale, it will be able to attract competitive companies, restore vitality to the depressed local area, and establish itself as a core industrial complex in the western region of South Gyeongsang Province.
Mayor Park Dongsik said, "Sacheon-si is emerging as an industrial city where Korea's future aerospace industry and the shipbuilding and machinery industries grow together. Through this sale, we will attract competitive companies, inject new vitality into the currently stagnant local area, and foster it into a key industrial hub representing the western region of South Gyeongsang Province."
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