[Anchor]
The Pyeongtaek Hyeondeok district development project, which has been drifting for 16 years, will be promoted again through a public development method.
The Gyeonggi Free Economic Zone Authority decided to focus on the creation of industrial complexes rather than residential complexes.
Reporter Choi Myung-shin reports.
[Reporter]
It is the Hyeondeok district in Pyeongtaek, which was designated as a free economic zone in 2008.
It covers 2,316,000 square meters of land in Hyeondeok-myeon.
Private development involving Chinese capital in 2014 and public-private joint development with a consortium of Daegu Bank in 2020, but it was canceled one after another.
Residents suffered from limited property rights for 16 years.
[Ahn Hong-kyu / Head of Hyundeok District Residents' Countermeasures Committee: The land will be gone if it is accepted, so I can't even say the pain I've suffered for 16 years because they never helped me. If it rains, it'll leak to my house, too. Rain is living at home.]
The green light has been turned on for development projects that are on the verge of stranded.
The Gyeonggi Free Economic Zone Authority has decided to push ahead with the project again in a public development method in which Gyeonggi Housing City Corporation and Pyeongtaek City Corporation participate as joint project implementers.
The expected project cost is KRW 1.7 trillion, which is expected to focus on the creation of industrial complexes rather than residential complexes.
[Choi Won-yong / Gyeonggi Free Economic Zone Commissioner: We have changed the development concept from an apartment development plan to a job site to attract companies in order to promote the stable and revitalize the local economy to meet the public development purpose]
If the project goes smoothly, land supply is expected to take place sequentially from 2027 along with compensation.
Gyeonggi Province plans to create a high-tech industrial complex that combines semiconductors, automobiles, and renewable energy by linking the Hyeondeok district with Pyeongtaek Port and a hydrogen complex.
I'm YTN's Choi Myung Shin.
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