Gwangyang Economic Zone Authority Holds Expert Meeting to Promote Investment in Materials and Components

Discussion on Investment Attraction Strategies in Advanced Materials Sectors such as Automotive Lightweighting and Battery Materials

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sang-rak, hereinafter referred to as Gwangyang Economic Authority) held an "Expert Roundtable for Revitalizing Investment in the Materials and Components Sector" in Gwangju on the 20th, providing an opportunity to gather opinions from specialized research institutions, academia, and businesspeople.

Experts in the automotive industry, secondary batteries, and lightweight and eco-friendly new materials who attended the roundtable discussed the future changes in the global electric vehicle market and the growth and prospects of the battery industry following the implementation of the U.S. Inflation Reduction Act. They also discussed corporate response trends and presented strategies for attracting investment from potential investors.

They also proposed the need for a strategy to develop raw materials and components derived from the Yeosu petrochemical industry into secondary high value-added industries and emphasized the importance of attracting companies related to lightweight materials for future vehicles and battery materials.

Commissioner Song Sang-rak of the Gwangyang Economic Authority concluded the roundtable by stating, "Based on the discussed market trends and investment revitalization measures, we plan to actively attract investments from materials and components companies with excellent technological capabilities to the Gwangyang Bay Area," and requested continuous support and interest for this purpose.

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr