Chuncheon City to Invest 450.9 Billion Won in Aged Core Industrial Complex Competitiveness Enhancement

Final Selection as a "Competitiveness Enhancement Project Zone" by the Ministry of Trade, Industry and Energy and the Ministry of Land, Infrastructure and Transport
Establishing a Digital Health and Bio Hub... Promoting Youth Influx and Green Transition

On May 7, Chuncheon City in Gangwon Special Self-Governing Province (Mayor: Yuk Donghan) announced that it has been officially designated as a zone for the "Aged Core Industrial Complex Competitiveness Enhancement Project," which is jointly promoted by the Ministry of Trade, Industry and Energy and the Ministry of Land, Infrastructure and Transport.

Location map of the industrial complex in Chuncheon City, designated as the "Aged Core Industrial Complex Competitiveness Enhancement Project Zone," jointly promoted by the Ministry of Trade, Industry and Energy and the Ministry of Land, Infrastructure and Transport. Image provided by Chuncheon City Hall

After being selected as a candidate site in April last year, Chuncheon City submitted a revised project plan in January this year following three rounds of consultations with an advisory group. The plan was finalized this month after review by the Competitiveness Enhancement Promotion Committee.

As a result, a total of 11 industrial complexes in Chuncheon, including the core Hupyeong Industrial Complex and related complexes such as Geodu and Toegye, have been designated as project zones. These complexes will be given priority and additional points in various projects supported by eight government ministries in the future.

This project aims to establish a hub for pharmaceuticals, food, and digital healthcare in the "Digital Bio Era." It will pursue 41 detailed initiatives across four main areas: digital transformation to advance manufacturing, building an industrial ecosystem for corporate growth, transitioning to low-carbon green industrial complexes, and improving the residential environment to attract young talent.

The total project budget is 450.9 billion won, with 285 billion won in national funding, 122.5 billion won in local government funding, and 43.2 billion won in private capital to be invested from this year until 2027.

Previously, in March, Chuncheon City launched the "Gangwon Hupyeong Smart Green Industrial Complex Project Group" in cooperation with Gangwon Special Self-Governing Province and the Chuncheon branch of Korea Industrial Complex Corporation. The city is currently investing 27.5 billion won to develop a smart logistics and energy platform, an integrated control center, and to foster talent for smart manufacturing.

Yuk Donghan, Mayor of Chuncheon, stated, "Through a large-scale innovation of Chuncheon's industrial complexes, including the Hupyeong General Industrial Complex, we will strengthen the competitiveness of tenant companies and create jobs, transforming these complexes into key drivers of regional economic growth."