The Gyeonggi Province Office finalizes the upper limit of land allocated for construction of factories for 2003.

Createdd 2003-06-07 Hit 6096

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97% of 2,766,000 square meters allocated to the Province

In an effort to keep overcrowding of manufacturing facilities in the Seoul area in check, the government has set upper limit of land approved for construction of factories in the area each year. With this year’s portion having passed the relevant committee headed by the Prime Minister on May 28, it is hoped that business activities will be put into high gear, as they can start building or expanding their manufacturing facilities.

Looking at the decision made for 2003, 97% (2,676,000 square meter) of the area set for factories in Seoul and its vicinity was allocated for Gyeonggi Province. National industrial complexes, apartment-type factories and temporary structures are not subject to this allocation. The limit does not apply to a factory that has to move to a new place as a result of its site having been appropriated for a public project, either.

The Province Office divided the portion into lower administrative units in consideration of various factors. It will do its best to keep attempts for land speculation in check by canceling approval for factory construction if the applicant unduly delays action in building a factory and notifying the tax authorities of the list of those who transfer the name of a factory owner to others before completion of the construction work. The existing priorities in allocating the land will remain unchanged, i.e. in the order of a foreigner-invested business, an export business, expansion of an existing factory and a venture business.

The Province Office is mulling ways to carry out the land allocation system in such a way as will help businesses in the Province secure higher competitiveness and not to cause inconvenience to inhabitants. To this end, the Office plans to seek systematic development of factory areas in consultation with cities and guns and provide aid in construction of apartment-type factories. It will also provide sufficient information on how its plan for allocation of land for factories will affect inhabitants to minimize inconvenience caused.

It will put priorities and information on allocation of the land lots for each city and gun on public notice, upon receiving the formal notice concerning the land allocation for factories from the central government