About 7.6 sq. km across Wollong-myeon, Paju-eup and Munsan-eup — applications due by 6 p.m. Aug. 14
Paju, led by Mayor Son Bae-chan, is accepting applications from private developers through Aug. 14 as part of a preliminary solicitation to pursue designation as a peace economy special zone.
The solicitation is being conducted under the Act on the Designation and Operation of Peace Economy Special Zones to identify private entities willing to participate in the project ahead of a formal designation application.
The target area covers approximately 7.6 square kilometers spanning Wollong-myeon, Paju-eup and Munsan-eup.
The preliminary solicitation serves as a foundational step toward filing the designation application, with the city aiming to secure private developers capable of advancing inter-Korean exchange and cooperation projects.
To be eligible, applicants must intend to move into the Paju peace economy special zone and carry out cooperation projects under the Inter-Korean Exchange and Cooperation Act. They must also hold equity capital equal to at least 10 percent of the estimated project cost for each development unit, as calculated by the city.
The Paju peace economy special zone is envisioned as a mixed-use development combining industrial, tourism and residential functions. The total project area is approximately 7.6 square kilometers and, given the scale of development, will be divided into six unit development districts.
The proposed unit development districts — excluding already-developed areas — are: a culture and tourism zone (mixed-use resort and sports facilities); Industrial Zone A (for companies from the Gaeseong Industrial Complex and the pharmaceutical industry); an inter-Korean logistics zone (serving as an inland logistics hub for the northern Greater Seoul area); Industrial Zone B (for the AI industry); Industrial Zone C (for advanced food technology); and a mixed-use zone (apartment housing and climate-response technology). The total estimated project cost is approximately 2.2 trillion won ($1.47 billion). The composition of the districts may change during the development planning and zone designation process, and the final project cost will be determined based on the developer's business plan.
Companies wishing to participate must submit all required documents, including a private developer participation application, in person at the city's Peace Economy Division by 6 p.m. on Aug. 14.
The solicitation does not confer legal rights or obligations as a project operator for the peace economy special zone development. It is solely a process to identify prospective project participants for the development plan required for the designation application. Matters related to the actual project operator will be handled separately after the zone is officially designated.
Hwang In-bae, head of the Peace Economy Division, said he hopes the solicitation will serve as "the first step in establishing the role of the private sector in the designation and development of the Paju peace economy special zone."
pjh@heraldcorp.com
