Six organizations, the Korea Trade-Investment Promotion Agency (KOTRA), Korea Agency for Saemangeum Development and Investment (KASD), the Federation of Korean Industries (FKI), Korea Federation of Small and Medium Business (KFSM), Industrial Bank, and Jeollabuk-do, recently signed a pact to support the development of the “Saemanguem China Valley,” Korea’s first inter-state special economic zone. They have agreed to cooperate to find and lure overseas investors and domestic companies to Saemangeum.
In December 2013, the People’s Republic of China and the Republic of Korea agreed to jointly proceed with building the Saemanguem China Valley. The project is to develop a 25.8 km2 complex city that is said to combine industry, education, R&D, residence, and commerce at the ongoing massive reclamation site of Saemangeum.
Before the reclamation of Saemangeum, it was the single most important site for staging shorebirds in the whole of the Yellow Sea – itself a core area for migrant shorebirds of the East Asian/Australasian Flyway.
To see images of Saemangeum and read a bird report from a recent research visit to the area: http://www.birdskoreablog.org/?p=11943