2024 Production Value Reaches 62.2 Trillion KRW,
Setting an All-Time Record
Concrete Achievements Realized
Following the Announcement of the ‘Changwon Industrial Innovation Park’ Future Vision
Changwon Special City cited the national industrial complex industry trends from the Korea Industrial Complex Corporation announced on the 18th, revealing that the total production value of the Changwon National Industrial Complex last year was approximately 62.2 trillion KRW, marking the highest production value ever recorded.
Hong Nampyo, Mayor of Changwon Special City, presenting the 50-year future vision of Changwon National Industrial Complex.
After surpassing 50 trillion KRW in production in 2011, it exceeded 60 trillion KRW in 2023, 12 years later, and recorded 62.2 trillion KRW in 2024, a 3.6% increase from the previous year, setting a new record for the highest production value. The future vision announced last year on the 50th anniversary of the Changwon National Industrial Complex holds great significance as it did not end as a one-time announcement but achieved concrete results through various new business plans and institutional innovations.
Looking at the production value of the Changwon National Industrial Complex by industry, the traditional core industries of machinery and transportation equipment increased by 9.4% and 5.6% respectively compared to the previous year, accounting for more than 60% of the total production value. They were followed by the electrical and electronics and steel industries. Exports recorded 18.4292 billion USD, a 0.7% increase from the previous year.
◆ 2024 ‘Changwon Industrial Innovation Park’ Major Transformation Achievements (Innovation, Eco-friendliness, Learning, Vitality)
On the 50th anniversary of the Changwon National Industrial Complex last year, Mayor Hong Nam-pyo of Changwon announced a future vision and declared a major transformation into the ‘Changwon Industrial Innovation Park.’ He also selected four core values for the sustainable growth of the industrial complex: ‘Innovation, Eco-friendliness, Learning, and Vitality,’ and presented strategies and policy directions linked to these values. Above all, efforts were made not just to establish and announce the vision but to lay the groundwork for the major transformation from the first year.
First, to realize the value of ‘Innovation,’ follow-up procedures for the candidate site of the defense and nuclear fusion national industrial complex, which will become a twin engine with the existing national industrial complex for the next 50 years, were actively initiated.
The Changwon National Industrial Complex area of 591,145㎡ was finally designated as a hydrogen-based future mobility opportunity development zone, expected to promote corporate investment attraction. Additionally, five large-scale projects, including the “Regional Digital Innovation Hub Creation Project,” were attracted to the Changwon National Industrial Complex, securing 75 billion KRW in national funding. These are core contents that can be called next-generation growth foundations such as digital transformation, manufacturing AI, and SMR.
Second, to realize the value of ‘Eco-friendliness,’ the province’s first ‘Climate Response Fund’ was established, and a ‘Small and Medium Enterprise Energy Consulting and Facility Improvement Project’ was promoted, targeting 20 SMEs to propose high-efficiency energy use plans and support facility improvements for carbon reduction. This is restructuring the industrial structure in an eco-friendly way while laying the foundation to become a trusted green industry hub in the global trade market.
Third, in terms of ‘Learning,’ the area was designated as the first pilot region for the Education Development Special Zone, operating industry site-customized education courses using human and material resources from universities for five specialized high schools in the district, supporting understanding and skill acquisition through company tours and expert lectures. Also, with the vision of “The Future 50 Years of Changwon National Industrial Complex: K-Defense, Nuclear Power, Smart Manufacturing Research-Centered University,” plans were established and supported for the selection of National Changwon University as a ‘Glocal University,’ achieving the honor of being selected.
Lastly, in terms of ‘Vitality,’ the semi-industrial area along Changwon Boulevard was extensively reorganized for the first time in 50 years. Regulations were significantly relaxed and incentives expanded to allow the construction of ultra-high-rise landmarks on the Industrial Complex Corporation site. In particular, tourism accommodation, education and research, cultural and sports facilities, and small-scale officetels were designated as encouraged uses, and incentives were provided for their installation to create a future innovation space where industry, residence, and culture converge, strengthening the sustainability of the Changwon National Industrial Complex as a forward base.
◆ 2025 ‘Changwon Industrial Innovation Park’ Major Transformation Promotion Plan
Due to changes in the international order following the inauguration of the second Trump administration, intensified technological competition such as AI, rising uncertainty due to domestic political instability, and concerns over prolonged domestic demand stagnation, the domestic environment remains unstable. Despite these uncertainties, Changwon City plans to calmly advance large-scale projects for the major transformation of the ‘Changwon Industrial Innovation Park’ under a long-term vision rather than temporary fixes.
First, spatially, full efforts will be made to swiftly pass the government preliminary feasibility studies for the core large projects: the new Changwon National Industrial Complex and the Digital Masan Free Trade Zone, creating spaces responsible for the next 50 years of growth. Additionally, following the reorganization of the semi-industrial district unit plan, the restructuring of the office district spatial structure will also be promoted. The distance from Gyeongnam Provincial Government Office to the Industrial Complex Corporation will be reorganized into a future-oriented main road representing Changwon, enhancing the city’s sustainability and competitiveness.
Meanwhile, key contents to fill the space are also being prepared. The largest single R&D project in Gyeongnam Province (total project cost of 500 billion KRW) will apply for a preliminary feasibility study for a state-of-the-art joint research facility, the neutron complex beam irradiation facility. Furthermore, the Changwon AI Autonomous Manufacturing Dedicated Support Center and the drone manufacturing localization specialized complex will be actively developed to lead innovation toward future-oriented manufacturing.
For future-oriented talent development, together with Gyeongnam Province, an Innovation Academy will be hosted to train young software professionals who will lead the AI transformation (AX) of manufacturing. Support will also be provided for the operation of National Changwon University’s ‘Glocal University,’ and efforts will be made to have Gyeongnam University additionally selected to produce talents who will lead innovation in the Changwon National Industrial Complex.
Mayor Hong Nam-pyo stated, “The future of the Changwon National Industrial Complex is not limited to Changwon alone but is a matter that determines the survival of the Republic of Korea,” and added, “Despite difficult conditions, we will prepare well for 50 years toward the vision of the ‘Changwon Industrial Innovation Park’ and lead the development of Changwon and the Republic of Korea.”
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