Exploring Regional Economic Cooperation Measures Including SK Specialty Sale Response Hosted by Yeongju Chamber of Commerce and Industry
Yeongju City in Gyeongbuk Province held an inaugural ceremony on the 3rd at the Yeongju Chamber of Commerce and Industry to establish the ‘Yeongju Regional Economic Win-Win Council’ in celebration of the Year of the Blue Snake (Eulsa Year) in 2025.
This council was formed for the first time this year under the auspices of the Yeongju Chamber of Commerce and Industry to coordinate matters significantly impacting the local economy and to discuss win-win strategies.
Yeongju City is holding the launch ceremony of the local economy win-win council and taking a commemorative photo. Photo by Yeongju City
The council is composed of key figures including the president of the Yeongju Chamber of Commerce and Industry, the mayor of Yeongju, local members of the National Assembly, members of the Gyeongsangbuk-do Provincial Council, and the chairman of the Yeongju City Council, serving advisory and coordinating roles for regional economic development and mutual growth.
Mayor Park Nam-seo emphasized, “Following the spirit of ‘Bulyeoinhwa (不如人和),’ the New Year’s theme for Yeongju in 2025, we will establish a culture of cooperation and harmony to create a Yeongju where everyone can grow together. We will do our utmost to overcome difficulties through collaboration between citizens and businesses and achieve sustainable development.”
Jung Byung-dae, president of the Yeongju Chamber of Commerce and Industry, stated, “The Yeongju Chamber of Commerce and Industry has played a key role in the local economy and has strived to strengthen industrial competitiveness. The first discussion of this council marks an important starting point to alleviate community concerns related to the sale of SK Specialty and to promote win-win development. In addition, we will pursue various activities for regional economic cooperation.”
At the inaugural ceremony of the council, in-depth discussions were held focusing on minimizing the community impact of the SK Specialty sale, employment stability, safety management, implementation of large-scale investment plans, and the continuation of ESG management.
Since the electronic disclosure by the Financial Supervisory Service regarding the SK Specialty sale in September last year, Yeongju City has been actively responding by communicating with corporate management and labor unions to ease citizens’ concerns and sharing related developments with members of the National Assembly, the Provincial Council, and the City Council.
In particular, during the meeting on December 27 last year between Kim Yang-taek, the new CEO of SK Specialty, and Mayor Park Nam-seo of Yeongju, trust between the local community and the company was reaffirmed, and various measures to strengthen win-win cooperation were explored.
SK Specialty has been leading job creation and economic revitalization in the region. Notably, in July last year, it signed a memorandum of understanding for an unprecedented investment of 500 billion KRW, progressing smoothly with procedures for creating over 200 jobs and developing a new industrial complex (60,000 pyeong).
Additionally, through the ‘STAXX Project,’ aimed at building a local startup ecosystem and revitalizing the economy, SK Specialty has contributed to improving various challenges faced by Yeongju, such as supporting social venture growth, revitalizing traditional markets, attracting tourists, increasing farm income, and solving vacant house issues.
Furthermore, SK Specialty has solidified its partnership with the local community by continuously engaging in various social contribution activities, including scholarships, donations for neighbors in need, and volunteer work.
Yeongju City plans to continue making multifaceted efforts, including expanding infrastructure such as industrial water development and emergency road construction, and supporting large-scale investments to facilitate the smooth growth of SK Specialty.
With the formation of the ‘Regional Economic Win-Win Council,’ Yeongju City expects to establish a win-win model where businesses and the local community develop together, injecting new vitality into the regional economy.
A meeting of the Yeongju City Regional Economy Win-Win Council is in progress. Photo by Yeongju City
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