The Government Gives a Green light for Gaesong Industrial Complex Development
ROK Ministry of Unification
2004-04-23
The Government Gives a Green light for Gaesong Industrial Complex Development
| 2004-04-23 |
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The Government Gives a Green light for Gaesong Industrial Complex Development Project
O The government, after consulting with related government authorities, decided to give its permission on the first stage development project of Gaesong Industrial Complex jointly submitted by Korea Land Corporation (led by Kim Jin-ho) and Hyundai Asan (led by Kim Yoon-gyu). O Thanks to the government's official permission on the inter-Korean economic cooperation project, Gaesong Industrial Complex will now be developed in earnest. The South will soon embark on the lot development construction for the first development stage of the Gaesong Industrial Complex (1million pyong or 3.3million square meters) and the model complex. O Gaesong Industrial Complex Development Project is expected to raise the industrial competitiveness of small- and medium-sized South Korean companies, help improve North Korean economy, and further deepen inter-Korean economic cooperation. O The government will continue to provide administrative assistance necessary for making Gaesong Industrial Complex Development Project a model case for future inter-Korean economic cooperation projects.
Reference : Outline of the Cooperation Project
O Title : The first stage development project for lot development of Gaesong Industrial Complex O Developer - The South : Korea Land Corporation - The North : Gaesong Industrial Area ¡¸Central Special Area Development Directing Bureau¡¹ · It is a body in charge of industrial development projects according to the¡¸Law on Gaesong Industrial Area ¡¹. It consists of members of Asia Pacific Peace Committee, National Economic Cooperation Federation, and Samcholli General Corporation. O Expenses : 220.5billion won O Development Method : The South will lease the land from the North for fifty years, develop industrial lots, and parcel them out to businesses at home and abroad. O Development Period : 2002 ~ 2007(including preparation period) O Location : Ilwon, Bongdong-ri, Gaesong-si O For more information : (031) 738-7601 (Gaesong Project Team, Overseas Business Department, Korea Land Corporation) (02) 3669-3957 (Gaesong Project Team, Hyundai Asan)
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