The 114th Association Meeting of Gwangyang Bay Area Free Economic Zone Held

Review of This Year's Administrative Audit Plan and the 2nd Supplementary Budget Proposal

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] The Gwangyang Bay Area Free Economic Zone Association (Chairman Oh Ha-geun, Jeonnam Provincial Assembly member) held the 114th extraordinary meeting of the association yesterday at the Gwangyang Bay Area Free Economic Zone Authority situation room.

At this extraordinary meeting, the 「2020 Administrative Audit Plan」 and the 「2nd Supplementary Budget Proposal」, which will be held for three days from the 28th to the 30th of next month, were reviewed and approved, increasing the general account by 950 million KRW and the special account by 3.42 billion KRW.

Looking at the increase by major projects, the general account includes 190 million KRW for publicity expenses, 700 million KRW subsidy for the Sewoong Industrial Complex public wastewater treatment facility, and 40 million KRW for the establishment of traffic improvement measures at the Maean junction. The special account includes 3.42 billion KRW for principal repayment of Jeonnam Province regional development fund loans.

Chairman Oh Ha-geun of the association said, “Despite the difficult situation due to the re-spread of 「COVID-19」, I express my respect to the economic authority staff who are striving to overcome this, and I ask that thorough organizational diagnosis be conducted to ensure there are no setbacks in resolving civil complaints.”

Lee Jung-hoon, a committee member from Hadong (Gyeongnam Provincial Assembly member), pointed out that the publicity budget was organized as a one-time budget and emphasized the urgent need for multifaceted measures to designate the Daesong Industrial Complex as a foreign investment zone, requesting active cooperation from related organizations.

Kim Tae-gyun, a committee member from Gwangyang (Jeonnam Provincial Assembly member), stressed that publicity expenses must be significantly strengthened to attract investment in the COVID era and strongly urged the economic authority to pay attention to the sluggish development of the Hwanggeum Industrial Complex.

Director Kim Gap-seop said, “In preparation for the post-COVID-19 era, we will devote all our capabilities to actively attracting investment through a major shift in investment attraction methods.”