Land Lot Leasing to be Carried out for the First Phase Development Areas of Main Complex in the GIC (June 5, 2006)
(Unofficial translation)
(The original Korean text was released by Korea Land Corporation)
Land lot sales will be conducted for Stage 1 area in the Main Complex of the Gaeseong Industrial Complex (GIC).
Korea Land Corporation announced that 573,000 pyeong (1 pyeong = approximately 3.3 square meters) land will be for sale over three times starting this June.
The land to be sold this time will be used for various types of industrial sites: 352,000 pyeong for general factory sites, 24,000 pyeong for apartment-type factory sites of small-sized enterprises, 40,000 pyeong for cooperative businesses, 60,000 pyeong for leading enterprises, and 40,000 pyeong for foreign companies.
Targeted companies for the land lot sales will be not only labor intensive industries such as apparel, sewing, and clothes as well as leather, bags, and shoes but also machineries, metals, electronics and electrics, chemicals, rubbers and plastics. A total of 250 to 300 enterprises are estimated to enter into the Stage 1 area in the Main Complex.
The plan for land sales program for factory sites is as follows:
|
|
Land for sales
(unit: 1,000 pyeong)
|
Sale methods
|
The date to start sales
|
|
Total
|
516
|
|
|
|
General factory site
|
200
|
Screening /lottery
|
Feb.4,2006
|
|
General factory site
|
152
|
Screening/lottery
|
Apr.4,2006
|
|
Apartment-type site
|
24
|
Screening / designation
|
Feb.4, 2006
|
|
Complex for cooperative businesses
|
40
|
Lottery
|
Mar. 4, 2006
|
|
Factory sites for leading enterprises
|
60
|
Screening
|
Mar.4,2006
|
|
Factory sites for foreign companies
|
40
|
Screening
|
Mar. 4, 2006
|
Separate Business complexes will be developed based on business type, while a common business complex for small and middle sized enterprises regardless of business type will be also developed in parallel. The line of businesses to enter into the complex will be selected, after several criteria are taken into consideration: for example, the number of South Korean enterprises that wish to enter the complex and the issues concerning strategic goods, place of origin, and their spillover-effects on the North Korean economy.
The South Korean government will attract both labor-intensive light industries and a strategically important line of businesses, including those that can make use of raw materials produced in North Korea and that are capable of taking advantage of high-skilled North Korean personnel in software development fields. The land size and location of a line of businesses will be finalized on the basis of a survey of business demands, according to characteristics and geographical traits of each business.
A screening body consisting of developers, experts and governmental representatives will map out fair application qualifications, standards and procedures for the land lot sales.
Most of the land will be for sale but apartment-type factories will be leased in order to ensure competitiveness of the small sized enterprises.
