The development area between Jeonju and Gunsan, North Jeolla Province, Korea, is 409 square kilometers. It covers two-thirds of the area of Seoul, the capital of Korea.
Since 2008, the Saemangeum Industrial Complex Project Group of the Korea Rural Community Corporation has been promoting the Saemangeum National Industrial Complex construction project at 1,850ha in the Saemangeum district, and the total project cost is about 2.6 trillion won.
It is being built as a low-carbon green growth eco-friendly complex. The attracting industries are parts manufacturing industry, high-tech convergence industry, and renewable energy industry.
Saemangeum National Industrial Complex has recently been called an advance base for electric vehicle production. Jeonbuk also aims to create 3,500 jobs and produce 300,000 electric vehicles a year by 2025, and 16 small and medium-sized electric vehicle-related companies, including Edison Motors and Daechang Motors, will invest KRW 19.3 billion and a total of KRW 453.4 billion with support from the Korea Development Bank and Small and Medium Business Corporation.
The Korea Rural Community Corporation plans to expand private investment by developing a green hydrogen ecosystem that can produce solar, wind, and green hydrogen, and officially plans to provide solar power generation rights to companies and cover the renewable energy produced in Saemangeum.
For such reasons, the government is currently in the spotlight as a center for the Green New Deal project and eco-friendly politics, which are key tasks of the government, and attracting investment companies is being activated.
Saemangeum National Industrial Complex Saemangeum Tri-Port
(New Port of Saemangeum, Highway, Saemangeum International Airport)
Currently, Saemangeum National Industrial Complex is preparing for Saemangeum Tri-port (Airport, Port, and Railway).
In 2024, a highway connecting Saemangeum and Jeonju will be opened, and the airport is establishing a basic plan with the aim of opening in 2028, and the incoming railroad to Saemangeum is currently conducting an investigation. Saemangeum New Port is planned to be completed by 2025. If the wide-area transportation network is established in this way, internal development will be activated and the amount of money can be reduced in production, storage, and transportation activities. It is expected that this will boost private investment
It also provides policies that will appeal to companies that move in.
Saemangeum Industrial Land can be rented for up to 100 years, corporate tax and income tax are reduced by 100% for up to 5 years and 50% for the next 2 years, supporting one-stop operation of various licensing teams, and supporting utilities such as electricity, communication, and gas.
Due to such policies and conditions, the number of companies investing in Saemangeum National Industrial Complex is increasing, and the attraction of investment is accelerating.
A total of 1,410ha of industrial complexes are planned to be supplied, and as investment conditions have improved due to the supply of long-term rental land, more than 32 companies have signed occupancy contracts and are preparing to move in over the past three years
Cho Hyun-chan, head of the Saemangeum Industrial Complex Project, is preparing to take a leap forward to become an economic hub in Northeast Asia by making it an industrial complex that companies want to invest in in line with the administrative cooperation of related ministries of the Saemangeum National Industrial Complex.
EJ SONG
Asia Journal
