Gyeongsan Cosmetics Specialized Complex Supply: Gyeongbuk Development Lowers Upfront Burden

【Financial News, Andong = Kim Jang-wook】"We have dramatically lowered companies' initial burden!"
Gyeongbuk Development will supply 22 industrial facility lots in the Gyeongsan Cosmetics Specialized Complex, located in and around Yeocheon-dong, Gyeongsan-si. The supply price will be approximately KRW 350,000 to KRW 390,000 per square meter. Eligible industries include cosmetics manufacturing and health functional food manufacturing.
This supply program is particularly focused on reducing companies' initial investment burden. Gyeongbuk Development has introduced a payment-option supply method that allows tenant companies to choose how they pay based on their financial circumstances. It has also established a 36-month installment plan that reduces the initial payment burden to 5%.
President Lee Jae-hyeok emphasized, "For this supply program, we have established a payment-option supply system and a tenant-support subsidy covering up to 14% of the development cost, so that companies struggling with the burden of initial investment costs can move in under more favorable conditions."
He added, "We will do our utmost to ensure that the Gyeongsan Cosmetics Specialized Complex establishes itself as a regional growth-industry hub supporting companies' stable settlement and growth."
Tenant companies may choose between regular payment terms—12 months, with a 10% down payment, a first intermediate payment of 30%, a second intermediate payment of 30%, and a final payment of 30%—and installment payment terms—36 months, with a 5% down payment, a first intermediate payment of 30%, a second intermediate payment of 30%, and a final payment of 35%.
Companies that choose installment payments can pay interest-free over a period of up to 36 months, significantly reducing their initial funding burden. However, when installment payments are selected, an annual early-payment discount rate of 5% applies only to the intermediate payments.
In addition, to reduce tenant companies' initial settlement costs, Gyeongbuk Development will cover the actual infrastructure construction costs—including site grading and retaining-wall installation—up to the limit of "supplied area (m2) × development cost (won/m2) × 14%."
After buyers and occupancy contract holders complete the infrastructure work and submit supporting documents, such as design specifications, work records, and tax invoices, the subsidy will be paid following a review.
Meanwhile, applications for industrial facility lots in the Gyeongsan Cosmetics Specialized Complex will be accepted from October 6 to October 8, from 9 a.m. to 6 p.m., excluding the lunch hour.

[email protected] Kim Jang-wook Reporter