New Hadong, The Greater Hadong! (Economy Free Zone)


Galsa-Bay Shipbuilding Industrial Complex

Project Outline

  • Location : Gadeok-ri and Galsa-ri regions of Geumseong-myeon, Hadong-gun, Gyeongsangnam-Do
  • Timeline : '09. 3. ~ '15. 12.
  • Size : 5.613k㎡ (sea surface 3.174, land surface 2.439)
  • Phase 1 : 2.482k㎡
  • Budget : KRW 1.3851 trillion (Private 1.1100, Public 0.2751)
  • Project Type : High value shipyard & shipbuilding equipments
  • Project Operator : Hadong-gun, Hadong Development Co.,Ltd.
  • End User : Daewoo Shipbuilding & Marine Engineering Co., Ltd., etc
  • Bank : KB Kookmin Bank, Bookook Securities
  • Builder : Hanshin Construction Co.,Ltd.

Status Report

  • '09. 3. 30 : Final approval for changes in development plan and execution plan (Ministry of Knowledge Economy)
  • '10. 9. 28 : Signing of the altered land parcelling-out contract with Daewoo Shipbuilding & Marine Engineering Co., Ltd.
  • '11. 9. 9 : Beginning indemnification for land surfaces
  • '12. 2. 29 : Signing of construction contract (Hadong Development Co.,Ltd.↔Hanshin Construction Co.,Ltd.)
  • '12. 3. 13 : Safety-Praying Ceremony
  • '12. 3. 20 : Beginning of filling construction for industrial complex phase 1
  • '12. 5. 7 : Completion of signing for project contracts and various agreements
  • '12. 5. 9 : Daewoo Shipbuilding & Marine Engineering Co., Ltd. land parcelling-out contract fee paid (KBW 11 billion)
  • '12. 5. 17 : Construction contractor’s performance bond paid (KBW 48.5 billion) (Hanshin Construction Co.,Ltd.→Hadong Development Co.,Ltd.)

Future Plans

  • '12. 6. : Completion of site preparation construction for Marine Plant Total Testing Research Center on the land surface.
  • '14. 12. : Daewoo Shipbuilding & Marine Engineering Co., Ltd. completes site preparation construction
  • '15. 12. 31 : Completion of the industrial complex site construction (Phase 1)

Geographical advantages of Hadong District

  • ① Adjacent to POSCO, Hadong Thermal Powerplant, Gwangyang Port
    • POSCO Gwangyang Steelworks (2 million ton of thick plate/year) (optimal site for bringing in raw materials and transporting goods) (within 3km)
    • Adjacent to the Korea Southern Power Co.,Ltd. (4 million kw/year)
    • Near to the nationally famous, Gwangyang Port (within 20 minutes)
  • ② Optimal accessibility
    • Near to the Namhaean Expressway (within 5 minutes), the Daejeon~Tongyeong Expressway (within 20 minutes) and the Sacheon Airport·Yeosu Airport (within 30~40 minutes)
  • ③ Establishment of various infrastructures
    • Regions where fishery rights are completely terminated when Hadong Thermal Powerplant and Gwangyang Steelworks are built
    • Namgang Dam (62,500 ton/day) – Multi-regional water supply facilities secured
    • Entry and exit ports built (23m deep water level) for Hadong Thermal Powerplant and Gwangyang Steelworks