Local firms investing in Saemangeum to get same land use benefits as foreign companies
Feb 9, 2017
Local companies making large investments in state-led reclamation sites will be given the same benefits in land leases as foreign companies starting from June, the Ministry of Land, Infrastructure and Transport said Thursday.A law revision pre-announced by the ministry would allow 100-year use of national and public land for companies investing 1 billion won ($872,448) in the Saemangeum reclaimed land, some 280 kilometers south of Seoul. Completed in 2006, Saemangeum has a seawall stretching 33.