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General Status Organization/Manpower Population/Households
Financial Scale Informatization 6 projects for new Masan
 

Development of Masan Port

Developing the Masan Port as the transportation hub for the southeastern area of the Korean peninsula, harmonizing its harbor and downtown functions.

- Area surrounding the Western Harbor (Seohang) and Yulgu Bay of Gapo-dong, 1.429 trillion won
Development of the harbor (sponsored by the Ministry of Maritime Affairs and Fisheries)
 Development of the West Harbor (Seohang) and Gapo Area (sponsored by Masan City)
Harbor facilities: 5 berths, and 6.45km of harbor road.
Dredging work from 9.5m of depth to 13m		 Development of land for housing: 765,000 pyong
(425,000 of West Harbor, 140,000 of Yulgu-man and 200,000 of Gapo)
404 billion won from Government and private investments
1.0251 trillion won from private investments
7 years from 2002 to 2008
 9 years from 2003 to 2011

It is designed to dramatically change Masan's city
   space.
Production inducement effect: amounting up to
   4.05 trillion won
Employment effect: up to 39,000 persons
▶ Current status of progress
 Development of the harbor
- Selecting the right construction company and entering a
   contract with it in 2003
- Implementing the design and starting the construction   
   work in 2004
Development of land
- Entering a development contract in 2003
- Performing the research project and planning the     
  segmented area development in 2004


Construction of Masan Valley

This aims to make Masan a high-tech hub city by inducing industries such as artificial home networks and robotics.
Development of the Naeseo-eup and Usan-dong areas with an investment of 635 billion won. (407.5 billion won from the national government)
- Constructing a cluster of the artificial intelligence home network industry (on an area covering 50,000 pyong, or 165,290㎡) with 480 billion won from 2004 to 2008, Research center (12,000 pyong or 39,670㎡), Exhibition center (2,000 pyong or 6,610㎡), Production area and test bed

Constructing the artificial intelligence type robotics industry (inside Masan Valley) with 140 billion won from 2002 to 2008
- Building a venture company promoting area (240,000 pyong or 793,400㎡) with 15 billion won from 2002 to 2004

Induced effects
2.5 trillion won in production effects
13,000 people in new employment
Market size for relevant industries will grow up to 379.1 billion U.S dollars by 2012.

▶ Current status of progress
-The "artificial intelligence home network" industry was selected as one of the next-generation growth industries in Aug. 2003
- The construction of an industrial complex was applied and the land preparation and construction started in 2004
 

Construction of the Masan-Changwon Bridge

The project is to solve traffic congestion in the downtown area by building new bypassing roads and infrastructures for making the city a tourist destination.

- Road that is 10.47km long and 20m wide (4 lanes) from Hyeon-dong, Masan City to Guisan-dong, Changwon City.
* 1.70 km of bridge (sponsored by private investments) and 8.77 km of access road (sponsored by public investments)
- Total investments: 651.2 billion won (376 billion won from central government, 85.8 billion won from the local government and 189.4 billion won from private investments).
- Period: from 2003 to 2008
- Reduction of traveling distance by 6 km,
Shortening travel time by 28 minutes,
New employment of 2.5 million people,
Expected reduction of transportation costs for the next 20 years by 270 billion won
▶ Current status of progress
 Entering a contract with private contractors in May 2003 and holding the ground-breaking ceremony in Aug. 2003.
Completing the construction design and starting construction work in Jan. 2004


Construction of the Jinbuk Local Industrial Complex
Constructing an industrial complex for solving the space shortage for small and medium sized companies and promoting the specialization and grouping of the industries.

Constructing the industrial sites measuring 276,000 pyong(914,400㎡) around Sinchon-ri, Jinbuk-myeon
* Construction of a general industrial zone around the Jindong rural planning zone (designated in Jan. 2002)
Total investments: 169 billion won (78.1 billion from public investments and 90.9 billion won from private investments)
* Recommended industries: Advanced mechatronic industries such as electric and electronics, machine and equipment, and auto industries.

▶ Current status of progress

Completing the basic plan and applying for approval of the industrial complex in 2003
Reviewing the development plan of the industrial complex and implementing the design in 2004

Expansion of the Masan Free Trade Zone

Promoting the local economy by inducing world-class hi-tech companies.

Area: expanded from 240,000 pyong(793,400㎡) to 331,500 pyong(1,095,872 ㎡) by annexing the Bongam Industrial Complex, which measures 91,500 pyong(302,480㎡)
* Announcement by the Minister of Commerce, Industry and Energy
Investment: 120.3 billion won (from central government). 75 billion won will be prepared by 2004.
Period: from 2003 to 2005
Recommended industries: electric and electronics, precision devices and other hi-tech industries.
Inducing 20 to 30 foreign companies and employing 7,000 to 8,000 people.
▶ Current status of progress
Concluding a contract with Kyungnam Wool Textile Co., Ltd. for purchasing its site in 2003
Keeping on negotiating for the purchase of the site of Hanjin Heavy Industries & Construction Co., Ltd.
Planning to undergo the construction of the 642 meter long road passing through the Masan Free Trade Zone with the 19.5 billion won investment from Masan City.

Construction of the Gusan Maritime Tour Zone

Developing a competitive tourism industry by utilizing the beautiful maritime touring site.
Area of 3,458,000 pyong(11,430,000 ㎡) around the Gubok and Simri in Gusan-myeon covering 2,502,000 pyong(8,271,000㎡) of land and 956,000 pyong(3,159,000㎡) of water surface.

* This project was already taken into account in the development plan of the southern coast touring belt prepared by Ministry of Culture and Tourism in July 2002.
Investment: 380 billion won (133.8 billion won from public investments and 246.2 billion won from private investments)
Period: from 2003 to 2008
Releasing the area from the fishery protection zone
Construction of leisure and resting facilities for use during all four seasons

▶ Current status of progress
Releasing 1 million pyong for Gusan-myeong from the Navy Base Zone. (New law passed the meeting of ministers in Aug. 2003).
The project will be actively undertaken in 2004 after the area is designated as a special zone according to the Act on special development of local areas.