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| Cheongju Aeropolis District 3 to Begin Compensation Process...Relieving Old Concerns by Residents | |
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Cheongju Aeropolis District 3 to Begin Compensation Process...Relieving Old Concerns by Residents
- Negotiations for compensation for the Cheongju International Airport-linked Industrial Complex will begin in October - On September 22, the Chungbuk Free Economic Zone Authority (hereinafter referred to as “CBFEZ”) announced that it will begin compensation for the land developed for the Cheongju Aeropolis District 3. Cheongju Aeropolis District 3, a project that has been underway since 2017, is an aviation industry complex of 1.129 million square meters (approximately 340,000 pyeong) in Naedun, Hwasang, and Hwaha-ri of Bugi-myeon, Cheongwon-gu, Cheongju-si. The district was designed as an aviation and logistics hub linked to Cheongju International Airport. The project began in 2017 with the establishment of the Cheongju Airport-Centered Economic Zone Development Plan, proceeded with the receipt of the designation as a land transaction permit zone, approval from the local finance investment review, and completion of an environmental impact assessment. It was officially approved and announced in March last year. CBFEZ has performed basic surveys of land and property, held resident briefings, formed a compensation council, and selected appraisers in preparation for the land compensation. The on-site inspections of facilities were completed in August, and the appraisal process is currently near its end. From October on, the authority plans to begin negotiations and compensation based on the assessed loss amounts. The start of compensation holds a significant meaning, as it is a gesture that will relieve the difficulties the locals have been facing due to prolonged development restrictions in the area. To ensure fairness and trust in the process, CBFEZ plans to prioritize communication with residents throughout each step of the compensation process, from appraisal to negotiation. The authority also secured additional funding for compensation in the second supplementary budget for 2025 so that compensation can be made without delay based on a stable financial foundation. In addition, to minimize inconvenience for residents, CBFEZ plans to establish a “compensation division” in the Bugi-myeon Administrative Welfare Center, located near the project site. This will allow land and property owners to conveniently participate in negotiations, review documents, and check sites without traveling long distances. CBFEZ Commissioner Choi Bok-so said, "After a long wait by the residents, the project has finally begun its compensation process, which is the first step of the project." He added, "We will continue to establish an aviation industry belt linked to Cheongju International Airport and develop this area into a strategic hub of the Chungbuk Free Economic Zone.” |
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