Production Induced 8.5 Trillion Won and Added Value 2.7 Trillion Won
Employment Expected at 32,000... Driving Regional Economic Growth
The Saemangeum National Industrial Complex has been finally selected as a 'National Advanced Strategic Industry Secondary Battery Specialized Complex,' poised to become a global hub for the secondary battery industry.
On the 20th, according to Jeonbuk Province and Gunsan City (Mayor Kang Im-jun), the National Advanced Strategic Industry Committee designated the Saemangeum National Industrial Complex as a specialized complex in the secondary battery sector to consolidate national capabilities for fostering advanced industries.
The National Advanced Strategic Industry Specialized Complex was announced by the government last December as part of a plan to designate specialized complexes for national advanced strategic technologies, including semiconductors, displays, and secondary batteries, to strengthen the country's competitiveness in advanced technology. In the secondary battery sector, five local governments including Jeonbuk, Pohang, Chungbuk, Ulsan, and Sangju competed fiercely.
At the time of the application in February, Jeonbuk Province was perceived as a latecomer in the secondary battery industry. However, starting with the joint investment by SK On, EcoPro Materials, and GEM in March, Jeonbuk successfully attracted large-scale investments from leading secondary battery companies such as LG Chem, Huayou Cobalt, and Enchem, igniting strong momentum to host the secondary battery specialized complex.
The province expects a total investment of up to 9 trillion won from secondary battery companies in Saemangeum. Over the past three years, 23 secondary battery companies have attracted investments totaling 7 trillion won, and a major conglomerate’s investment plan worth 1.8 trillion won is also scheduled soon.
In this evaluation, the Saemangeum National Industrial Complex competed with local governments such as Pohang, Chungbuk, and Ulsan, which already have established secondary battery industry bases, but the strategy highlighting Saemangeum’s infinite potential shone brightly.
They emphasized the provision of a single site larger than 100,000 pyeong (approximately 330,000 square meters) with expansion possibilities, abundant electricity and water supply, realization of CF100 and RE100 in preparation for the carbon-neutral era, and designation as an investment promotion zone where corporate and income taxes can be reduced by up to 100%, making it the only region in Korea with such benefits.
They established four major strategies and 14 detailed tasks to prove the potential for clustering secondary battery companies, securing a technological super-gap, and nurturing core personnel, presenting concrete plans and demonstrating feasibility with full effort.
For the previously raised weaknesses regarding securing super-gap technology and workforce development, they formulated super-gap technology plans together with leading companies. They signed agreements to establish five core commercialization centers for joint research and workforce development with institutions such as the Korea Institute of Science and Technology (KIST) and Seoul National University Global R&DB Center. Plans were also made to build a real-time advanced analysis center with researchers from Hanyang University.
On the 20th, Saemangeum National Industrial Complex was finally selected as the 'National Advanced Strategic Industry Secondary Battery Specialized Complex.' [Photo by Gunsan City]
Going forward, the secondary battery specialized complex in Saemangeum National Industrial Complex will receive comprehensive government-level benefits, including corporate tax credits, priority allocation of government R&D budgets, preferential selection for preliminary feasibility studies, and support for market development.
With this designation of the secondary battery specialized complex, Jeonbuk is expected to generate a production inducement effect of 8.5 trillion won, a value-added inducement of 2.7 trillion won, and create 32,000 jobs. Accordingly, Jeonbuk’s share of the national GRDP is projected to rise from 2.7% in 2021 to 3.5% in 2028, leading regional economic growth.
Mayor Kang Im-jun of Gunsan City said, "The designation of the secondary battery specialized complex is expected to contribute to building a regional industrial ecosystem, including job creation and population inflow." He added, "We will do our utmost to provide comprehensive support such as various tax benefits, infrastructure development, and workforce training to make Jeonbuk Saemangeum the world’s leading center for the secondary battery industry."
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