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Daegu-Gyeongbuk (DGFEZ)   |  DGFEZ approves execution plan to develop the Yeongcheon High-Tech Park District Development by 2022 as a district specializing in mechatronics, intelligent automobiles, and medical molding



On the 22nd, the Daegu-Gyeongbuk Free Economic Zone (DGFEZ ; Commissioner Lee Inseon) approved and
provided public notice of the execution plan for the Yeongcheon High-Tech Park District within the free economic zone.
At 1,220,000 sq. ft. (370,000 pyeong), the infrastructure for Yeongcheon High-Tech Park District is scheduled for completion by June 2022 in the area of Nokjeon-dong/Hwasan-myeon of Yeongcheon-si.
oward this end, LH Construction and the City of Yeongcheon will start on the land preparation in October and hold a groundbreaking ceremony in November.

The total project budget comes to 235.5 billion KRW, with the Ministry of Trade, Industry and Energy and the governments of Gyeongsangbuk-do and Yeongcheon-si
investing 99 billion KRW in the infrastructure, and LH Construction investing 136.5 billion KRW in the preparation costs and creation of the district.

The Yeongcheon High-Tech Park District is connected to the existing Avionics System Technology Center,
the Biomedical Manufacturing Technology Center, the Gyeongbuk Research Institute of Vehicle Embedded Technology Center and others,
and is being developed to become a district specialized in the areas of mechatronics, intelligent automobiles, and medical molding.

DGFEZ Commissioner Lee Inseon explained, “Amendments to the Agricultural and Fishing Villages Improvement Act provided the basis for pursuing this project,
and the project will take off with approval of this execution plan. We will create a premier free economic zone that meets the expectations of the citizens of Yeongcheon, who participated actively in promoting the project.”