New Songdo Intelligent City

A U.S. company has been selected to build South Korea's $12.5-billion massive 'New Songdo Intelligent City'.

1 minute read

March 26, 2002, 12:00 PM PST

"This project represents one of the largest international real estate developments in the world and the first United States/South Korea real estate joint venture in history. The POSCO/Gale Company venture has executed a development agreement to acquire 1,400 acres to be built in several phases over a ten-year period with an estimated completion cost of $12.5 billion. This project will be called New Songdo Intelligent City. The 1,000-acre development will include a World Trade Center, convention hall, office towers, retail, hotels, 15,000 housing units, two golf courses and a 60-acre, public Central Park. The remaining 400 acres will be targeted for the city's construction of public improvements to include streets, sidewalks, utilities and government buildings."

Thanks to Kristen Richards

FULL STORY: US-South Korea Joint Venture to Develop New Urban Center Next to World's Second Largest Airport in South Korea

Monday, March 25, 2002 in Business Wire

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