A view of a development site for Gyeongin Canal Project (image credit: Korean Federation for Environmental Movement)
SEJONG, Dec 30 (Korea Bizwire) – Development of South Korean public land is likely to gain traction next year as the government aims to generate more revenue and improve public interest, finance minister Choi Kyung-hwan stated today.
Choi announced his plan at an event to celebrate the opening of the Sejong National Research Complex, comprising of four 12-story buildings, which will be the new home of 11 state-run thinks tanks, such as the Korea Institute for Industrial Economics and Trade, the Korea Institute for International Economic Policy, the Korea Labor Institute, and the Science and Technology Policy Institute.
The complex was built by KAMCO under the Nara Kieum program that makes use of private funding to build various facilities and social infrastructure. The complex is built on 71,657 square meters of land, and was built at a cost of 198.4 billion won (US$172.3 million), according to Yonhap News Agency’s report.
By M.H. Lee (mhlee@koreabizwire.com)
