Naju Energy National Industrial Complex Approved... 260 Billion Won to Be Invested by 2032

On July 2, the Ministry of Land, Infrastructure and Transport announced that it had decided to approve the industrial complex plan for the Naju Energy National Industrial Complex.

This project aims to develop an industrial complex covering 1.24 million square meters in Deoksan-ri, Wanggok-myeon, Naju. The goal is to attract industries such as energy, new material nano convergence materials, and eco-friendly information technology (IT). A total of 263.3 billion won will be invested by 2032.

Naju Energy National Industrial Complex. Provided by Jeonnam Province

The project was initially promoted as part of a national innovation-led growth initiative during the Moon Jae-in administration. In 2018, the site was selected as a candidate for a national industrial complex, with the justification of fostering regional specialized industries and strengthening the competitiveness of the energy sector. The Ministry explained that, although domestic and international investment sentiment in the energy industry had weakened, making it difficult to secure corporate demand, the government, local authorities, and project operators worked together to develop a concrete plan for the complex.

In 2022, Korea Institute of Energy Technology opened in the area, and at the end of the same year, the project passed a preliminary feasibility study for public institutions. In April this year, the plan was finalized after a review by the Central Industrial Complex Planning Review Committee.

Naju is home to Korea Electric Power Corporation and other energy-related public enterprises, as well as the energy technology institute and the Naju Innovation General Industrial Complex, forming an energy ecosystem. The government expects that, with the addition of this national industrial complex, Naju will serve as a key hub for Korea's energy industry. The Ministry of Land, Infrastructure and Transport estimates that, after completion, the complex will generate 316.4 billion won in production inducement effects and create 1,515 jobs.

Kim Jiyeon, Director General for Land Policy at the Ministry, said, "It is significant that we have established a national strategic hub for the energy industry, which is a future growth engine," and added, "We will respond to the era of energy transition by expanding solar power facilities in the complex to pursue RE100, and by strengthening cooperation among relevant institutions to build a stable supply base for renewable energy."