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Even large conglomerates will be free to build or expand factories in industrial complexes in the Seoul metropolitan area from March next year. The government will also ease restrictions on tourist facilities, such as golf courses and resorts, and of large buildings like superstores and logistics complexes in greenbelt zones. The government on Thursday made public a policy for the effective use of land in the eighth session of the Presidential Council on National Competitiveness.
The government decided to permit expansion and construction of factories in industrial complexes in the Seoul area or moving plants to the capital from other regions regardless of size and business type. In areas other than industrial complexes, regulations banning construction of new plants remain in force, but expansion will become easier. Restrictions on the combined total area size of new plants to be built each year will remain, but it will be possible to build a plant on more than 500 sq. m, up from 200 sq. m.
Sagong Il, the chairman of the presidential council, said, ˇ°We urgently have to reduce regulations in the Seoul area to revive the economy and boost national competitiveness. Deregulation in the Seoul area will significantly raise the potential growth rate, inducing more corporate investment and creating more jobs."
(englishnews@chosun.com )
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