Cheongyang Chili Pepper and Goji Berry Special Zones, Yeongdeungpo Smart Medical Special Zone, Goheung Well-being Yuzu and Pomegranate Special Zone, etc.
Total Investment of 298 Billion KRW... Promoting Regional Income and Employment Creation
[Asia Economy Reporter Kim Heeyoon] The Ministry of SMEs and Startups held a written meeting of the Regional Specialized Development Special Zone Committee and announced on the 20th that it approved a total of six agenda items, including the performance evaluation results of regional special zones, two plan changes, and three cancellations.
The Ministry evaluated this year's operational performance based on last year's results from 190 special zones nationwide. The top special zone was the ‘Cheongyang Chili Pepper and Goji Berry Special Zone,’ and excellent special zones included the ‘Yeongdeungpo Smart Medical Special Zone’ and the ‘Goheung Yuzu and Pomegranate Special Zone,’ with a total of 12 excellent special zones selected.
The selected excellent special zones created visible achievements in employment and exports through the globalization of regionally specialized resources. The Ministry plans to support the excellent special zones with awards such as the Presidential Award and a total prize money of 950 million KRW.
At this committee meeting, the original proposals were also approved for two special zone plan changes involving investment plans totaling 298 billion KRW and the cancellation of three special zones where local governments and residents wish to terminate after achieving their objectives.
The ‘Yeonggwang Barley Special Zone,’ a plan-change regional special zone, plans to add ‘Mosippeap’?which boasts the largest production volume nationwide?to enhance synergy in production, sales, and experiential tourism alongside the existing ‘barley.’ Additionally, the ‘Sunchang Fermented Sauce Special Zone,’ a hub for fermented sauce production, processing, and research, increased its national and local government funding by 85.4 billion KRW to newly establish an experiential village.
The two special zones with plan changes are expected to create an additional regional income of 58.7 billion KRW and 1,485 jobs through investments of 298 billion KRW from private capital and local governments.
Gwak Jaekyung, head of the Regional Special Zone Division at the Ministry of SMEs and Startups, said, “It is encouraging that cities, counties, and districts are promoting regional balanced New Deal through the operation and performance creation of regional special zones,” and added, “The government will also do its best to institutionally support the operation of regional special zones led by cities, counties, and districts to further expand the outcomes.”
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