Yellow Sea (HwangHai) Free Economic Zone Authority being led by Lee Hwa-Soon.
According to Lee Hwa-Soon, PyeongTaek’s China town is supposed to be part of President Xi’s Chinese dream and that this China town will connect with China’s ambitious “One Belt One Road” project.
It will be the biggest Chinatown in the world if constructed.
Yellow Sea Economic Free Zone announced on 16th June 2016 that it will create the first Chinese friendly city in the Yellow Sea Economic Free Zone in PyeongTaek City.
The size of the city will be roughly 2.9 million meter squared and it is to become the biggest china town in the world. It is larger than the combined areas of all China towns currently existing in 59 countries including USA Japan and South Korea. The combined areas of China towns of 59 countries are around 55,300 to 9,900 square meters put together.
The Yellow Sea Free Economic Zone Authority predicted that when the city was established, it would have 30,000 (mainly Chinese) people and 40,000 jobs.
However, strong criticism is growing among South Korean citizens about such plans.
Moreover, in response to the recent illegal fishing in the West Sea, there has been a response to the question, “Do we want to give up our land to China even after the incidents near our sea?”
In addition, there are voices of concern about security such as growing numbers of crimes committed by illegal foreigners and important military facilities and industrial facilities near business sites.
Experts and professors pointed out that the construction of the china town is peculiar. Within the 10 km range from china town, there are industrial facilities operated by South Korea’s leading companies such as Samsung, LG and Hyundai. Another main concern is that the American military bases could be readily accessed and spied by Chinese intelligence agents because of its proximity.
According to a South Korean citizen, “Time will tell whether this will be a poison or a fortune, but you do live in anxiety if a small Chinese city is built in Pyeongtaek.”
Another citizen expressed frustration saying “It is too bad that North Korea has sold development rights on their land to China over the next 50 years.” He added “Please do not sell yourself and country over money .”
Many netizens expressed basic doubts as to whether this plan would help Korea’s demestic economy.
A South Korean argues that “If you build a china town anywhere, it will become a city where only Chinese people eat and live. The owners are Chinese nationals mainly controlled by the CCP. Do we really building that it will help South Koreans with jobs ?” “They will only do business themselves and this will not help the domestic economy”, “Chinese-oriented tourism will end up eventually being transferred to China ” and “The Chinese will money and eventually leave South Korea.”
,Chairman of the Pyeongtaek Socio-Economic Development Center; Lee Eun-woo said, “I do not know if the development plan itself is even a possibility and basically It’s like a special area just for Chinese people. How do you make a win- win deal with the local community? I am concerned. ”
According to the director of China Castle Development Co. Ltd who is the leading company behind the China town development “I do not intent to create a residence for the Chinese, but rather to build a facility to attract Chinese tourists.” On matters regarding security and safety of the area he replied as “I do not think there is any need to worry about security.”
“We will hire Koreans to sell land and buildings, and provide equipment for Korean companies to participate in shopping malls and accommodation facilities.” “Through this, we will make an economic interest in Pyeongtaek and Korea,” he added.
By 2020, the China town project plans to complete the construction of the two districts as planned and focus on building a good business environment for businesses such as establishing e-commerce specialized complexes and establishing business centers.
In the medium to long term, we will create a business-friendly environment as a base for high-tech growth industry by 2027 and foster a convergence-oriented new industry in line with the era of the fourth industrial revolution to create a port business hub in the west coast combined with future industries and tourism and recreation.