Saemangeum project finally breaks ground

GUNSAN, North Jeolla Province -- Ground was finally broken for the controversial Saemangeum plan yesterday, marking the start of the industrial development project on reclaimed land.

"This long and arduous and project is finally being realized today," Hong Moon-pyo, president of the Korea Rural Community Corporation, the state-run firm managing the ambitious project, said.

The groundbreaking ceremony drew Prime Minister Han Seung-soo, Knowledge Economy Minister Lee Youn-ho, Agriculture Minister Chang Tae-pyong and other senior officials and politicians.

The development will convert about 400,000 square kilometers of mud flats into farmland and a freshwater lake by building a 33-kilometer-long dike.

This official development phase marks the first major industrial development project to be led by the Lee Myung-bak administration.

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The project is part of plans to build an industrial complex within the Saemangeum-Gunsan Free Economic Zone. The total investment for the entire project, to be completed by 2018, is estimated at 1.94 trillion won.

Hong noted that the groundbreaking marks the beginning of the development of a section of the first block worth about 49.3 billion won in investment this year. The FEZ has four blocks.

"We are taking a steady and thorough approach for this development by carefully planning each of the block`s function and characteristics," he said. "We are aiming for a kind of development not ever seen before, as we prioritize innovation and creativity."

Ryu Jae-hun, executive director of the KRCC, added that the state-run agency`s role is to ensure developing the industrial complex with the best technologies, and providing the best conditions for investments.

The industrial venture plans were first introduced in 1991, while construction of the Saemangeum dike took place on-and-off for almost 20 years and finally completed in 2006. Environmental controversies and lack of administrative support were to blame for the long and trying process, Hong said.

"But time and our careful planning has allowed the public to see the environmentally sound approach of the development, while the social and economic benefits of the project became convincing enough to gain administrative and public support," he stressed.

Once the SGFEZ is completed in 2018, the economic contribution as of 2019 is estimated to size up to 23 trillion won, while creating 160,000 jobs.

"The SGFEZ will serve as an environment-friendly zone, upholding the government`s New Green Growth objectives," Kim Hag-weon, the environment vice director general, said.

The industrial development section for which construction work began yesterday will total 18,700 square kilometers, or 10.2 percent, of the total Saemangeum reclamation project.

Another 33.3 percent will be allocated for farm land; 2.9 percent will be designated as an energy-related research and development zone; 21 percent will be devoted to environmental projects; and another 3.5 percent for tourism.

By Yoo Soh-jung



(sohjung@heraldm.com)