Changwon City Enacts the Nation's First Ordinance to Support the Development of Materials, Parts, and Equipment Industries

[Asia Economy Yeongnam Reporting Headquarters, Reporter Jucheol In] Changwon City, Gyeongnam Province, announced on the 17th that it will promulgate the 'Ordinance on the Promotion and Support of the Materials, Parts, and Equipment Industry' (hereinafter referred to as the SoBuJang Industry Promotion Ordinance) on October 4, becoming the first basic local government nationwide to do so.

The Changwon City Council passed the SoBuJang Industry Promotion Ordinance at the extraordinary session held on the 15th. This ordinance requires Changwon City to establish a comprehensive promotion plan for the SoBuJang industry every three years and to prepare detailed annual implementation measures.

The ordinance also includes the basis for establishing the SoBuJang Development Committee. Changwon City, which has a national industrial complex, is a representative manufacturing city in Korea. Among the registered factories in Changwon City (4,566), companies in the SoBuJang sector exceed 60% (3,136).

Ryu Hyojong, Director of the Smart Innovation Industry Bureau, said, “The materials, parts, and equipment industry is a game changer that determines the success and competitiveness of the manufacturing industry,” adding, “With the enactment of the ordinance, we will strive to create a SoBuJang specialized complex, establish strategies for new manufacturing innovation, and build infrastructure.”