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Korea is considered a major shipbuilding nation. Domestic shipmakers have their hands full keeping up with orders from all over the world ? some are even booked up for the next four years.
But recent findings show that, despite the boom, there aren't enough industrial sites to meet demand. According to experts the situation is similar for domestic carmakers and electronics manufacturers.
Therefore, plans are underway to build more industrial complexes nationwide starting next year. New sites are planned for cities including Daegu, Gumi, and Pohang in North Gyeongsang Province, as well as Seocheon in South Chungcheong Province, and parts of the Jeolla provinces.
Additional key sectors to reap the benefits will be steel and environment-related industries.
The government is not wasting any time implementing a new measure which speeds up processing for construction permits by almost six months.
The measure grants less than 1,000 sq.m of land for building the complexes to public bidders, while allocating half the amount of land to private bidders once the site is complete.
As early as the end of next year, Korea's key export industries can expect to enjoy streamlined work processes.
Arirang News
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