DGFEZ starts the Yeongcheon High-tech Park Project in earnest
- Revised the AGRICULTURAL AND FISHING VILLAGES IMPROVEMENT ACT in 2018, action plan approved in July this year, and compensation started in September.
- The developer LH Corporation will complete the foundation work by investing 235.5 billion KRW until 2022.
- Construction of futuristic automative parts industry and automotive and aviation interior cluster



◯ Daegu Gyeongbuk Free Economic Zone Authority (hereinafter “DGFEZ”, In-Seon Lee, Commissioner) will start in earnest the Yeongcheon High-tech Park (hereinafter referred to as Yeongcheon District) Star Valley Project by holding the launching ceremony at 14:00 on December 12 (Thu).
 
◯ This launching ceremony is a follow-up action after the revisionof the Agricultural and Fishing Villages Improvement Act in 2018, the approval of the action plan in July 2019, and the start of compensation in September. Over 500 people will participate in this launching ceremony including Seong-Il Ahn, Director General of the FEZ Planning Office of the Ministry of Commerce, Industry,, and Energy, Cheol-Woo Lee, Governor of Gyeongbuk Province, Ki-Moon Choi, Mayor of Yeongcheon City, Main-Hee Lee, Member of the National Assembly, Members of Province and City Councils, heads of agencies, business people, and local residents.
 
◯ The Yeongcheon District is an area of 1.22 million m2 (approximately 370,000 pyeong) in Yeongcheon City (Nokjeon-dong and Hwasan-myeon). The LH Corporation (Korea Land and Housing Corporation) will develop a cluster of ▸futuristic automotive parts industry (sensors, electrics, and modules) and ▸ Automotive and aviation interior (high-touch emotional textiles and functiopnal textiles) by investing 235.5 billion KR until 2022.
 
◯ The Yeongcheon District will be recreated into an advanced industrial city for mechatronics, futuristic automobiles, medical molding, and aviation interior in partnership with existing research facilities including Gyeongbuk Automtoive Embedded Technology Research Institute, Biomedical Production Technology Center, and Avionics System Technology Center.
 
◯ Furthermore, The Yeongcheon District has the best locational condition for attracting domestic and international companies. Since it is located at the intersection between the Daegu-Pohang Expressway and the Sangju-Yeongcheon Expressway, it can be accessed within one hour from Daegu, Pohang, Gyeongju, and Gumi. Therefore, the Yeongcheon District can function as an advanced industrial bases of the Yeongcheon region in the future.
 
◯ Regarding the meaning of the launching ceremony, In-Seon Lee, Commissioner of the DGFEZ, said, “The Yeongcheon District will be a driver of job creation and local economy by promoting the attraction of domestic and international companies when it becomes a cluster of futuristic automotive parts industry and automotive/aviation interior.”