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Project Agreement for Construction of the Nation’s Biggest Flatted Factory Building Complex Finalized

2005-03-15

▶ Construction of flatted factory buildings of 300,000m2 gross-floor area to take place on Hankook Cosmetics Bucheon Plant site

▶ City of Bucheon in policy support, Ssangyong C&E in construction & lot sale, Hankook Cosmetics in business implementation

▶ Central axis of West Seoul Metropolitan Area by Gyeongin Expressway equipped with many facilities and parks for the users convenience

Ssangyong Construction & Engineering (Chairman&CEO Kim Seok-jun) announced that it finalized a trilateral agreement for the nation’s biggest flatted factory building project with the City of Bucheon (Mayor Hong Geon-pyo) and Hankook Cosmetics (Chairman&CEO Kim Du-hwan) on February 24.
The agreement specified that the City of Bucheon would be put in charge of policy support for businesses related to construction of flatted factory buildings (tentative name: Techno Park No.3) with 300,000m2 gross-floor area on the Hankook Cosmetics Bucheon Plant site that takes the address of 36-1 Samjeong-dong, Ojeong-gu, Bucheon, Gyeonggido. The landowner Hankook Cosmetics and Ssangyong C&E will take on the business implementation and key operations in construction and lot sale, respectively. Ssangyong will build the entry roads in and out of the site as a good-willed contribution to the project.

Techno Park No.3 will be the biggest flatted factory complex with 12 15-floor (14 aboveground, 1 underground) buildings. The complex to be built over the 700,000m2 land will feature 300,000m2 in gross-floor area with factories, dormitories, and various neighborhood facilities.
The complex is located at the center of West Seoul Metropolitan Area near Jung-dong and Sang-dong of Bucheon and Gyeongin Expressway. One can conveniently access the Seoul Metropolitan Circular Expressway and Jung-dong Broadway from the site. A 20m-long new entryway will be built to better facilitate business activities at the complex. Pleasant working and business environment will be created with gardens and parks planned in various spots on the rooftop and around the buildings.

The groundbreaking for Bucheon Techno Park No.3 will take place in August 2005, and the construction is scheduled to complete in September 2007.