Attracting Investment in New Industries such as Energy and Secondary Batteries
[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] Gwangyang City in Jeonnam announced that it is making every effort to create a sustainable global city by attracting investment in new industries such as energy and secondary batteries, whose demand has recently surged, on the Donghoan site of the Gwangyang National Industrial Complex.
The Donghoan area of Gwangyang Steelworks received development plan approval from the Ministry of Land, Infrastructure and Transport in 1989 for the purpose of expanding the Gwangyang Steelworks facilities and creating a slag treatment plant, and POSCO is currently promoting its development.
Gwangyang City is making every effort to create a sustainable global city by attracting investment in new industries such as energy and secondary batteries, which have recently seen a rapid increase in demand, on the Donghoan site of the Gwangyang National Industrial Complex. Photo by Gwangyang City
Currently, out of 2.3 million pyeong, 1.35 million pyeong is in operation with factory establishments, and 950,000 pyeong is either unused or undergoing reclamation of shared water surfaces. POSCO plans to continuously invest in new industries such as secondary battery materials and hydrogen production on the Donghoan site.
However, under current laws, only steel-related industries can be established on the site, making investment in new industries such as secondary batteries impossible, and even affiliated companies other than POSCO find it difficult to invest.
To improve these institutional issues, the city has repeatedly proposed system improvements to related ministries since November last year.
On February 1, a meeting was held under the chairmanship of the Deputy Prime Minister at the Office for Government Policy Coordination, attended by the Ministry of Land, Infrastructure and Transport, the Ministry of Trade, Industry and Energy, and Gwangyang City. The city explained the institutional problems related to investment in Donghoan and strongly urged for legal amendments.
As a result, the related ministries actively sympathized with the current issues and agreed to actively cooperate in system improvements.
Jung In-hwa, mayor of Gwangyang City, said, “The POSCO Group possesses the best domestic technology in fields such as secondary batteries and hydrogen production, and leads the establishment of new industries with global competitiveness. We will do our best to actively improve the system that currently blocks investment under existing laws to revitalize investment in new industries in Gwangyang, thereby promoting regional economic development and increasing jobs.”
Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr
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