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KRW 1.5 trillion will be invested up to 2019, including KRW 356.6 billion worth of government expenditure.

(Seoul=Yonhap News) Kang Eui-Young Reporter: On June 13^th, the Ministry of Land, Transport and Maritime Affairs announced that Ulju-gun of Ulsan and Miryang and Yangsan-si of Gyeongnam, which is 693.7㎢ in area (254.6㎢ for Ulsan and 439.1㎢ for Gyeongnam), will be developed as a historical, cultural and tourism cluster in the southeastern inland area and designated as a special region.

The southeastern inland area is a multifunctional cultural area with abundant and diverse natural resources, high historical value and a culture centered around Gaji-san (the Alps of Yeongnam), which is the source of the Taehwa River, Miryang River and Yangsan Stream.

The special region, which was designated in accordance with the ‘Act on Balanced Regional Development and Promotion for Local and Small and Medium Enterprises’, will receive a full subsidy for the construction costs of the transportation infrastructure. The government, via the relevant ministries, will also subsidize the historical, cultural and tourism projects.

This project includes 25 projects in five areas, and from this year to 2019, KRW 1.5 trillion will be invested, including government expenditure of KRW 356.6 billion, local government expenditure of KRW 338.9 billion, and private investment of KRW 358.1 billion.

The Ministry of Land, Transport and Maritime Affairs is supporting seven projects, including a road to express the thoughts of the national safeguards of the southeastern inland (Ulju), a leisure road for mountain tourism in Gaji-san (Yangsan), and a road symbolizing filial piety (Miryang).

Additionally, 18 projects, such as resource recovery by the cultural tourism in Seosang-po Waeseong and restoration of Banguseowon, the restoration of Chuhwasanseong in Miryang Eupseong, the creation of Ganjeolgot Sunrise Park and the creation of the Baderi nature experience village, will be implemented by the ministries concerned.

The Ministry of Land, Transport and Maritime Affairs expects that this plan will contribute to job creation and economic vitalization together with the opening of the KTX Ulsan Station in November of this year.