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Chungbuk (CBFEZ)   |  [CBFEZ] Development of Cheongju Aeropolis Sector 2 Begins in Full Swing

-Signed MOU for 100% of the Industrial Sites, Goal to Complete in 2020-

Chungcheongbuk-do (Chungbuk Free Economic Zone Authority, CBfez) has decided to develop Cheongju Aeropolis Sector 2 at the site around Ipdong-ri and Sinan-ri, Naesu-eup, Cheongwon-gu with the size of 321,000 ㎡ with the goal of completing construction in December 2020.

Currently in August, 14 companies are wishing to move into the site, and MOUs have been signed for 100% of the industrial site. The land compensation goods are currently being investigated for the development. The negotiations for the compensation will begin in January 2018, and will be carried out with the goal of completing the compensation early, so that there will not be any problems in starting the construction in June 2018.

For the development of the Aeropolis District and alteration of implementation plan, as Cheongju International Airport double-track rail routes have been finalized, the changes of land use plan will be negotiated in advance by the relevant organizations, and after the deliberation by the Committee of Free Economic Zone in January 2018, they will be finalized in May 2018.

Furthermore, to strengthen site conditions, total construction cost of KRW 26.8 billion (KRW 19.7 billion of national budget, and KRW 7.1 billion of local budget) will be invested to complete the construction of infrastructures, including entry roads, industrial water supplying facilities, and wastewater treatment facilities by 2020.

Regarding entry road construction, the 2.7km section from Aeropolis Sector 2 to the area around Yonggye Sageori on the National Road No. 511 will be newly built with the investment of total construction cost of KRW 18.1 billion, and currently made orders for basic and implementation design service. Additionally, industrial water supply facilities and wastewater treatment facilities are planned to be built by investing KRW 1.5 billion and KRW 7.2 billion respectively, with the goal of placing orders for September 2017 and March 2018 respectively.

According to the officers of Chungbuk Free Economic Zone Authority (CBfez), with the resumption of Cheongju Aeropolis Sector 2 Construction Project, the local economy will be revitalized, and it will also greatly contribute to the development of Chungcheongbuk-do through the fostering of core base of aviation industry based on Cheongju International Airport. He also added, “We will give our best efforts so that Aeropolis will be built as the hub cluster of aviation industry centered on Cheongju International Airport.”