A Signal for the Rise of a High-Tech Industrial City
Taking Off as a Hub for Secondary Batteries
The "Secondary Battery Cluster Development Project," which Sangju City in Gyeongbuk is focusing on as a future growth engine, has received final approval from the Ministry of the Interior and Safety's central investment review, paving the way for a restructuring of the region's industrial landscape.
On July 7, Sangju City announced that the "Secondary Battery Cluster," planned for Yong-an-ri and Mugok-ri in Gongsung-myeon, received final approval from the Ministry of the Interior and Safety's central investment review on July 4. With this, the project is expected to move forward in earnest with design and various administrative procedures.
This project is a large-scale initiative to establish a general industrial complex on a site totaling 1,923,065 square meters (about 580,000 pyeong), with the goal of attracting companies related to secondary batteries and building key infrastructure to support the industrial ecosystem.
From September last year to April this year, Sangju City conducted a feasibility study through the Korea Local Finance Association, achieving a benefit-cost ratio (B/C) of 1.12, thereby securing the project's viability.
Subsequently, in April, the city requested a central investment review from the Ministry of the Interior and Safety, and after an in-depth examination of the overall project plan, received final approval.
Mayor Kang Youngseok of Sangju stated, "Passing the central investment review is a decisive first step for Sangju to become a hub of the secondary battery industry," emphasizing, "We will focus all administrative efforts to ensure rapid and systematic progress of the project so that Sangju can transform into a high-tech industrial city."
With the approval, the city plans to begin designing the industrial complex and establishing an implementation plan within this year. It also aims to promptly complete related licensing procedures and commence full-scale development of the complex.
In particular, the city is pursuing designation as an "Opportunity Development Zone" by the Ministry of Trade, Industry and Energy, and is accelerating the establishment of a full-cycle (talent-technology-enterprise) secondary battery ecosystem by linking with the Ministry of Education's "Education Development Zone" and Gyeongbuk Province's "K-U City Project."
An industry official commented, "The secondary battery industry is rapidly emerging as a key strategic sector amid soaring global demand," and added, "Sangju City's successful investment review will serve as a catalyst not only for building an industrial complex but also for fundamentally transforming the local economy."
Meanwhile, the Secondary Battery Cluster Development Project is expected to generate investment inducement effects of approximately 400 billion won and create more than 3,000 jobs, further boosting the establishment of a high-tech industrial belt in northern Gyeongbuk centered on Sangju.
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