Seongnam City Selected for "Old Factory Youth-Friendly Renewal Project" for Second Consecutive Year
Secures 400 Million Won in National Funding...
Expected to Attract More Young People and Revitalize Small and Medium-Sized Enterprises
Seongnam City, led by Mayor Shin Sang-jin, has been selected for the second consecutive year for the "Industrial Complex Old Factory Youth-Friendly Renewal Project" by the Korea Industrial Complex Corporation under the Ministry of Trade, Industry and Energy. The city is accelerating efforts to create an industrial complex where both young people and businesses can stay and grow together.
With this selection, Seongnam City has secured a total budget of 630 million won, including 400 million won in national funding, to begin full-scale environmental improvements for aging factories within the Seongnam General Industrial Complex.
The city will add 60 million won from its own budget and 170 million won in self-financing from participating companies to support tailored improvement projects for 10 companies, with each company receiving approximately 46 million won in support.
The companies eligible for support are: Clio Co., Ltd., Hanil Sileob Co., Ltd., Donghae Plastic, Diamond Saeu Co., Ltd., Youngil M Co., Ltd., Hive System Co., Ltd., EQ ENG Co., Ltd., Innotube Co., Ltd., Meditree Founders Co., Ltd., and Pangmani Co., Ltd., making a total of 10 companies.
The main improvements include: creating youth-oriented welfare spaces such as in-house cafes and shared lounges; upgrading hygiene and air conditioning facilities in workplaces; renewing equipment with worker safety in mind; and enhancing external designs. After signing a business agreement with the Korea Industrial Complex Corporation in the second half of this year, construction will begin, with completion targeted for the second half of 2026.
This project is expected to create synergy with other ongoing initiatives in Seongnam City, such as the "Construction of the Multipurpose Cultural Center" and the "Youth-Friendly Beautiful Street Project." It is also anticipated to play a significant role in improving the overall image and competitiveness of the Seongnam General Industrial Complex.
Mayor Shin Sang-jin stated, "Our goal is to create an industrial complex where young people want to work and companies want to stay," adding, "We will continue to enhance the environment to strengthen the competitiveness of the industrial complex and create quality jobs."
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