Gyeongnam Development Corporation (South Korea)

Gyeongnam Development Corporation, located in Changwon, was established on January 1, 1997. It was founded under Article 49 of the Local Public Enterprises Act and the ordinance of establishment of Gyeong Nam Development Corporation. The main purpose of the company is to contribute to the enhancement of welfare of citizens and the development of the regional economy through regional development projects such as land development, housing construction, and overseas investment development projects. The main businesses of Gyeongnam Development Corporation include the development of housing and ordinary structures, sale in lot, leasing and management projects, purchase of land, development, sale in lot, leasing and management projects, city redevelopment projects, and housing environment improvement projects. The company also engages in general industrial complex creation projects, market projects and distribution business complex creation projects, city development and regional projects, environment-related projects, cleaning and sanitation projects, production and sale projects of construction materials, parking lot projects, river development and public waters reclamation projects, park projects, park graveyard creation and charnel house creation projects, underground road and commercial district creation projects, city gas projects, track and cableway projects, projects assigned by the state, local governments, and public organizations, local road projects, overseas investment development projects, projects concerning golf courses, ski resorts, and other sports facilities, local farm operation and distribution and sale projects for agricultural products, renewable energy projects, tourist attraction and tourism vitalization and promotion projects, tourism development projects, and supplementary projects related to the aforementioned projects. Gyeongnam Development Corporation has an authorized capital of 190 billion KRW (38,000,000 shares) and contributed capital of 95.6 billion KRW, which includes an establishment capital of 29.5 billion KRW. The company aims to promote balanced regional development, introduce an entrepreneurial business mind by securing professional management personnel, and contribute to expanding the finance of a self-governing body through public development projects.