Gwangyang Economic Zone Authority Launches Recruitment for Tenants in Haeryong Industrial Complex Phase 2-2

Optimal Conditions with High Initial Investment Cost Reduction Effect and Geographic Advantages

The Gwangyang Bay Area Free Economic Zone Authority (Director Song Sang-rak, hereinafter referred to as Gwangyang Economic Authority) announced that it has started recruiting companies to move into industrial facility sites in the Haeryong General Industrial Complex Phase 2-2 (hereinafter Haeryong Complex Phase 2-2) in Suncheon from May this year.

Haeryong Complex Phase 2-2 is attracting attention as an industrial complex that will resolve the recent shortage of factory sites within the Gwangyang Bay Area Free Economic Zone.

[Image provided by Gwangyang Economic Zone Authority]

Haeryong Complex Phase 2-2 is an industrial complex located at 290 Seonwol-ri, Haeryong-myeon, Suncheon-si, Jeollanam-do, covering an area of 608,224㎡ (approximately 180,000 pyeong), and is being developed adjacent to the already sold-out Haeryong Complex Phase 2-1.

Since it is built on solid original ground rather than reclaimed land, factories can be established without ground improvement, reducing initial costs, and no additional costs due to natural subsidence occur during operation, making maintenance easier. The high stability of the site is advantageous for related industries such as precision machining.

Investment incentives such as tax reductions and subsidies are applied upon moving in, reducing the actual investment costs for companies. Additionally, by allocating national and other budgets to partially fund the construction of arterial roads within the industrial complex, there is also an effect of lowering the sale price.

Equipped with diverse and excellent industrial infrastructure, it is also convenient for corporate activities. Located behind POSCO Gwangyang Steelworks with world-class production capacity and the Yeosu National Industrial Complex for petrochemical products, it maximizes synergy effects with domestic large corporations and related industries such as Gwangyang Steelworks, Hyundai Steel, Hyundai Steel, GS Caltex, LG Chem, POSCO Future M, and Hanwha Aerospace.

Furthermore, research facilities for new material manufacturing, such as Jeonnam Technopark and university research institutes, are established, facilitating smooth supply of industrial raw materials and securing excellent human resources. It is located 5 minutes by car from the Shindae District and has residential areas such as the currently developing Seonwol High Park Complex, making it an optimal location for proximity between residence and workplace, providing a definite advantage in securing workforce.

A broad transportation network connecting domestic and international locations is also secured.

KTX Suncheon Station and Yeosu Airport are 10 minutes away by car, and the world-class logistics hub Gwangyang Port is 18 km away, with Yulchon Port 5 km away, both in close proximity.

Regarding roads, within 5 minutes, it is directly connected to Honam Expressway, Namhae Expressway, and Suncheon-Wanju Expressway, allowing travel between the Seoul metropolitan area and Busan within 2 hours.

A representative of the Gwangyang Economic Authority stated, “We will spare no administrative support to attract excellent and sound companies to Haeryong Complex,” and added, “We are actively responding to numerous investment inquiries, including operating incentive systems to reduce the financial burden on tenant companies and allocating budgets for industrial complex infrastructure.”