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Wednesday, January 22nd, 2014
SEOUL, KOREA - An automobile cluster town will be created by 2017 in the City of Goyang in the northwest of Seoul, featuring an auto theme park, car custom shops, an auto parts recycling center, a vocational school, a museum, and the like. On January 20, representatives from the Provincial Government of Gyeonggi, Goyang City Government, Goyang Urban Management Corp., Insun ENT, Korea Development Bank, and Dongbu Securities met in the KINTEX exhibition center and signed an agreement to work together in creating the cluster.
According to the master plan, the auto-themed town will be built in the 400,000-square-meter site within Deokyang District in the city at the cost of 295.7 billion won. Under the terms of the agreement, the parties will form a working-level council before the end of February and begin the construction project in earnest.
Cho In-dong, senior manager with Goyang Urban Management Corp. responsible for new business development, said, "The auto cluster, combined with other projects already underway such as the Ferrari World in Paju, Korean Wave World, K-Pop Arena, and other cultural venues, will accelerate the development pace of our city. The cluster alone will have the effect of creating 5,000 jobs and 1 trillion won in national income."
