Designation of Project Area for Strengthening Competitiveness of Aging Key Industrial Complexes
[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] The Old Industrial Complex Competitiveness Enhancement Committee designated and approved five regions selected last March through a public contest, including Gyeongsangnam-do, as old industrial complex competitiveness enhancement project zones this year.
The designated industrial complexes are Changwon National Industrial Complex, Gimhae Golden Route General Industrial Complex, Sacheon General Industrial Complex, and Haman Chilseo General Industrial Complex.
The competitiveness enhancement project zones target old industrial complexes to increase the added value of resident industries, strengthen corporate support services, and improve and expand infrastructure, support, and convenience facilities.
They are designated to revitalize and strengthen competitiveness, enhance the function of industrial sites, and achieve sustainable regional development.
Since being selected in the industrial complex renovation contest last March, Gyeongnam Province has promoted the project plan through two rounds of central advisory group consulting in collaboration with Changwon City, Sacheon City, Gimhae City, Haman County, Korea Industrial Complex Corporation, Korea Land and Housing Corporation (LH), and Gyeongnam Technopark.
With the designation as competitiveness enhancement project zones this time, it is expected to accelerate the improvement of industrial complex competitiveness. The four designated sites have established the basis for national funding support, including driving forces for the 45 industrial complex renovation projects, various benefits, and special cases.
The industrial complex renovation project started with the goal of developing Gyeongnam into a future mobility advanced parts industry hub.
It is being promoted from the existing traditional transportation machinery parts industry to future mobility industries such as eco-friendly vehicle parts like hydrogen and electric vehicles, hydrogen electric trams, and next-generation flying vehicles.
According to the industrial complex renovation innovation plan, the province plans to invest 1.4243 trillion KRW over three years starting this year in 45 projects focusing on three major tasks: ▲support for corporate manufacturing innovation and expansion of startup spaces ▲improvement of worker welfare and employment stabilization support ▲strengthening the foundation for smart and green industrial complexes.
In the first year of the renovation project, the province plans to secure 70.2 billion KRW in national funding for 23 projects including ▲industrial agglomeration competitiveness enhancement projects ▲regional leading industrial complex linked cooperation projects ▲old industrial complex competitiveness enhancement projects ▲major smart green industrial complex projects.
It will also participate in 11 public contests such as ▲Campus Innovation Park ▲eco-friendly facility infrastructure support ▲industrial complex environmental improvement fund, and carry out its own projects like ▲Smart Green Imagination Hub ▲hydrogen industry specialized industrial complex creation to attract private investment.
A provincial official said, “With the designation of competitiveness enhancement project zones, the future mobility industry in the industrial complex renovation areas, which account for 60% of the total industrial complex production in the province, will secure competitiveness,” adding, “We expect this to be a cornerstone for the re-advancement of Gyeongnam’s main industries.”
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