Chilgok-gun receives approval for Buksam Opyeong general industrial complex

The Buksam Opyeong General Industrial Complex development project in Chilgok-gun, North Gyeongsang Province, has received official industrial complex plan approval from the provincial government.

North Gyeongsang Province issued the official approval and topographic map for the Buksam Opyeong General Industrial Complex on June 29, Chilgok-gun announced Tuesday.

The project was first proposed in 2009 but stalled for years due to domestic and global economic downturns, shifts in the real estate market, and unfavorable industrial complex supply conditions.

The project regained momentum after the launch of the eighth directly elected local administration and culminated in official approval 17 years after it was first initiated.

The complex will be built on a 1.235 million-square-meter site in the Opyeong-ri area of Buksam-eup through a public development model, with a total project cost of 281.4 billion won ($183 million) and a target completion date of 2031.

Chilgok-gun will serve as the project operator, with land compensation and ground-breaking to follow in sequence.

The county plans to accelerate the project by moving swiftly on compensation procedures following the official approval.

"There were many difficulties over the long 17 years, but we have finally achieved approval of the industrial complex plan with the cooperation of residents and relevant agencies," Chilgok-gun Mayor Kim Jae-wook said. "We will do our utmost to push the project forward."