Gwangyang Economic Authority Successfully Holds 20th Anniversary Celebration Ceremony

Future Vision and Secondary Battery Forum, Revealing Future Growth Directions

The Gwangyang Bay Area Free Economic Zone Authority (Director Song Sang-rak, hereinafter referred to as Gwangyang Economic Authority) held a commemorative ceremony on the 21st at the 3rd-floor auditorium of the Gwangyang Economic Authority to celebrate its 20th anniversary.

In line with the era of global transformation, it declared a vision for the development and innovation of the Gwangyang Bay Area and expressed its commitment to achieving sustainable and inclusive growth through cooperation with Jeonnam’s Yeosu, Suncheon, and Gwangyang cities, Gyeongnam’s Hadong County, as well as domestic and international investors and companies.

[Photo by Gwangyang Economic Promotion Agency]

With over 120 distinguished guests in attendance, including Kim Young-rok, Governor of Jeonnam Province; Kim Tae-gyun, Vice Chairman of the Jeonnam Provincial Council; Shin Min-ho, Chairman of the Planning and Administration Committee; Kang Jeong-il, Provincial Assembly member; Park Kyung-mi, Provincial Assembly member; Jeong Ki-myung, Mayor of Yeosu; Yoo Hyun-ho, Vice Mayor of Suncheon; Jeong In-hwa, Mayor of Gwangyang; Ha Seung-cheol, Hadong County Governor; Choi Byung-yong, Chairman of the Gwangyang Economic Authority Council; Kim Gu-yeon, Gyeongnam Provincial Council member; Im Hyung-seok, Jeonnam Provincial Council member; Han Sook-kyung, Jeonnam Provincial Council member; Lee Hyun-jo, Director of the Ministry of Trade, Industry and Energy’s Free Economic Zone Planning Division; as well as Park Hee-seok, CEO of POSCO Lithium Solutions Co., Ltd., and Kim Ho-joong, CEO of Gwangyang Aluminum Co., Ltd., representatives of companies located in the Gwangyang Bay Area also attended, adding significance to the event.

During the event, 13 individuals, including businesspeople and public officials who contributed to the development of the Gwangyang Bay Area Free Economic Zone, were awarded commendations from the Minister of Trade, Industry and Energy, the Governor of Jeonnam Province, and the Director of the Gwangyang Bay Area Free Economic Zone Authority in recognition and encouragement of their achievements.

The ceremony also featured the screening of a 20th-anniversary commemorative video, a ceremony pledging cooperation for regional development, and a tree-planting event. Additionally, a 20th-anniversary white paper will be published to present a milestone for the future.

Through this event, the Gwangyang Economic Authority announced a new vision as an “economic hub advancing as a future industry and marine tourism center,” presenting its achievements over the past 20 years and future development directions both internally and externally.

The Gwangyang Economic Authority has established advanced industrial complexes and a tourism hub on the southern coast, positioning itself as a core economic and tourism region in Jeonnam and Gyeongnam, and has realized investment attraction centered on new growth industries.

Spanning Yeosu, Suncheon, and Gwangyang cities in Jeonnam and Hadong County in Gyeongnam, the area covers 57.08㎢. By 2030, a total of KRW 16.2769 trillion will be invested to develop six districts?Gwangyang, Yulchon, Sindeok, Hwayang, Gyeongdo, and Hadong?and 17 complexes including Yulchon Industrial Complex and Daesong Industrial Complex. Among these, 15 complexes covering 48.76㎢ are either under development or completed, achieving 85.4% of the planned progress.

Utilizing the international port of Gwangyang Port and favorable infrastructure, the area has focused on attracting companies in new growth industries, resulting in 473 companies investing KRW 25.8 trillion and creating 51,000 jobs.

Furthermore, the authority has set goals to attract 750 companies with KRW 40 trillion in investment and create 80,000 jobs by 2030. To achieve this, it has established four major strategies: ① expanding attraction of advanced and core strategic industries, ② supplying industrial sites responsive to demand, ③ building a global marine tourism and residential city, and ④ supporting innovative growth of resident companies.

On the same day in the afternoon, the Gwangyang Economic Authority successfully held the “Gwangyang Bay Area Secondary Battery Industry Promotion Forum.” This forum, aimed at establishing a full-cycle secondary battery industry cluster in the Gwangyang Bay Area and attracting a special opportunity development zone, gathered experts from various fields to share in-depth opinions under the theme of “Fostering Secondary Battery Material Technology and Next-Generation Recycling Technology.”

Kim Young-rok, Governor of Jeonnam Province, stated, “Over the past 20 years, the Gwangyang Economic Authority has devoted all efforts to fostering a balanced development of foundational industries such as steel and chemicals, as well as advanced industries including secondary batteries, aerospace, hydrogen, and data, and to creating a related ecosystem. The province will cooperate to enable the Gwangyang Bay Area to leap forward as a global industrial, logistics, and tourism city through the establishment of the southern coast tourism and cultural industry belt, the creation of a smart port at Gwangyang Port, and the nurturing of young talent.”

Song Sang-rak, Director of the Gwangyang Economic Authority, said, “Based on the achievements of the past 20 years, we will lead future development to become a new growth engine for the Republic of Korea and drive regional development to the fullest.”