Government to Invest 187 Billion KRW in Environmental Improvement of Aging Industrial Complexes

Integrated Announcement and Briefing Session for 18 Projects to Be Held Tomorrow

The Ministry of Trade, Industry and Energy announced on the 6th that it will invest 187 billion KRW of national funds to improve the environment of aging industrial complexes.

To this end, the Ministry plans to issue a combined announcement for 18 projects on the 7th and hold a briefing session for local government officials at the Korea Railroad Corporation's main conference room in Daejeon.

The joint call for proposals includes 18 projects from five ministries: eight projects from the Ministry of Trade, Industry and Energy such as remodeling of closed or idle factories and construction of youth cultural centers; six projects from the Ministry of Employment and Labor including support for joint workplace daycare centers for small and medium enterprises and industrial accident prevention facilities in industrial complexes; two projects from the Ministry of Culture, Sports and Tourism such as education on understanding cultural diversity; and projects from the Ministry of Land, Infrastructure and Transport including job-linked support housing, and the Korea Forest Service’s support for creating urban forests around industrial complexes.

Among these, the Ministry of Trade, Industry and Energy plans to select a total of 66 sites this year, including 15 youth cultural centers, 30 beautiful street creation sites, 2 remodeling projects for closed or idle factories, 15 youth-friendly renewals of aging factories, and 4 landmarks and branding projects, and provide 187 billion KRW of national funding over four years.

The Ministry decided to award additional points during the evaluation for new project selection if local governments plan and apply by linking multiple projects from different ministries to promote coordination among ministries’ projects related to industrial complex environmental improvement.

An official from the Ministry emphasized, "Five ministries have pooled their capabilities to improve the environment of aging industrial complexes," adding, "We will continue to strengthen cooperation with ministries and local governments to improve working and living conditions in industrial complexes."