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Gaesong Land Sale to Begin Monday

Written: 2007-04-24 09:44:56Updated: 0000-00-00 00:00:00

Gaesong Land Sale to Begin Monday

Plots of land in the main zone of the Gaesong Industrial Complex in North Korea will go on sale from next week.

The South's Korea Land Corporation said Tuesday that it plans to sell one-point-seven square kilometers of land to South Korean companies starting next Monday. The area is part of the total three-point-three square kilometers of land on which the inter-Korean economic complex will be developed in three phases by 2012.

The state-run firm said it plans to allocate 26 percent of the land to textile and clothing manufacturers, ten percent to makers of footwear and bags, 15 percent to machinery and metal manufacturers and four percent to plastic and rubber production plants.

The land corporation plans to hold presentations in Seoul and Daegu early next month for South Korean firms that are interested in buying land at the industrial park.

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