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Taebaek City is launching the 'Taebaek City Economic Promotion Development Project' to revitalize the Jangseong area, investing approximately KRW 354 billion. Key initiatives include the transformation of the former Jangseong Coal Mine site into a clean methanol manufacturing hub with KRW 211.2 billion allocated.

Additional investments will establish a core mineral industrial complex and logistics facilities. The project also aims to enhance residential conditions with KRW 47 billion for housing for workers and vulnerable groups, alongside modernization efforts for local markets. Completion is targeted by 2030.