Changwon Special City Passes Review of Future Mobility Opportunity Development Zone Plan
Changwon Special City in Gyeongnam announced on the 24th that the original draft of the application plan for the Changwon Future Mobility Opportunity Development Zone was approved at the 7th Gyeongsangnam-do Local Era Committee meeting for 2024.
The application plan for the Opportunity Development Zone aims to establish hydrogen trams and hydrogen fuel cell production plants within 560,859.5 square meters of the Changwon National Industrial Complex. With anchor companies such as Romansys, Bumhan Fuel Cell, Bumhan Automobile, Samhyun, and Nextop Korea, and 12 partner companies, the plan targets an investment of 694.8 billion KRW and the creation of 982 jobs. The goal is to develop Changwon as a hub for the hydrogen-based mobility industry through core technology development, strengthening corporate capabilities, and creating a worker-friendly residential environment.
At the meeting held on the 23rd, committee members requested further details on differentiated public-private-academic cooperation. The participation of the CEOs from the four anchor companies, who explained their respective companies' future visions in detail, helped deepen understanding of the plan.
Gyeongnam Province, the applicant for the Opportunity Development Zone, plans to apply for the designation to the Ministry of Industry in September. If the plan passes the Ministry's review and on-site inspection between October and November, as well as deliberation and resolution by the Central Local Era Committee, it will be officially designated as an Opportunity Development Zone. Related companies will then be eligible for various tax benefits based on their investments.
Cho Youngwan, Director of the Economic and Employment Bureau, stated, "The designation of the Opportunity Development Zone will serve as a stepping stone for Changwon to become a hub for the future mobility industry and secure new growth engines," and added, "We will do our utmost to provide administrative and financial support for the designation of the Changwon-type Opportunity Development Zone and smooth investment by companies."
Meanwhile, the city plans to foster the Opportunity Development Zone as a core industrial base leading the global future mobility industry. Starting with hydrogen-based mobility industries (such as hydrogen buses and trams), the city intends to gradually expand the industrial ecosystem in the mid- to long-term to include special purpose vehicles (such as hydrogen drones and UAM), smart defense, and robotics.
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