Joint Project with KOTRA and Others for Seven Months
Fostering New Industries... Presenting a Sustainable Development Model
The Gwangyang Free Economic Zone Authority (headed by Koo Chungon, hereinafter referred to as Gwangyang FEZ Authority) announced on the 10th that it held a final report session for the 'Foreign Investment Attraction Project Commercialization Support Program' at its headquarters on June 9, sharing the results of a consulting project on strategies to attract overseas companies.
This project was carried out over seven months in cooperation with related organizations such as the Ministry of Trade, Industry and Energy, KOTRA, and Jeonnam Technopark. The core task was to establish customized attraction strategies for the industrial transformation and sustainable economic growth of the Gwangyang Bay Area.
Through this consulting project, the Gwangyang FEZ Authority aimed to develop tailored action plans such as internalizing the supply chain of core materials, completing the data industry value chain, and identifying strategic industries suitable for the region's characteristics, with the goal of leading to tangible foreign investment attraction.
In April, the Gwangyang FEZ Authority achieved results by signing MOUs with three companies during investment attraction activities in Japan, and is currently arranging visits to Korea and on-site inspections for these companies. In addition, the authority is planning to conduct investment attraction activities in Europe in September, including in-person IR events.
Koo Chungon, Commissioner of the Gwangyang FEZ Authority, stated, "We will present a sustainable development model for the regional economy by shifting the Gwangyang Bay Area from a focus on steel and petrochemical industries to new industries such as materials and data industries."
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