Gangwon Province Invests 887.4 Billion Won in 58 Projects Across Three Major Future Industries
Future Industry Week: Semiconductors, Biohealth, and Future Mobility Events Held Throughout the Province
Securing National Funding to Launch 39 New Projects Worth 105 Billion Won Next Year
Gangwon Special Self-Governing Province (Governor Kim Jin-tae) announced on October 27 that a total investment of 887.4 billion won will be made in 58 projects across Gangwon’s three major future industries: semiconductors, biohealth, and future mobility, with ongoing investments fueling the growth of these sectors.
The province is currently pursuing 10 projects worth a total of 232 billion won to foster the semiconductor industry. To date, it has signed investment agreements with eight companies and, as the first local government to do so, has established a business agreement with the Korea Semiconductor Industry Association, thereby strengthening its foundation for collaboration.
Additionally, based on region-specific specialization strategies-Chuncheon (education, research, fabless), Wonju (manufacturing, demonstration, education), and Gangneung (materials, components)-the province is working to establish the “Gangwon K-Semiconductor Cluster.”
Since becoming the first local government to promote the bio industry in 1998, the biohealth sector has positioned itself as a central hub of Korea’s expansive bio ecosystem through the “Gangwon Bio 3+3 Strategy.”
Currently, 36 projects totaling 415.4 billion won are underway, with tangible achievements such as the designation of a bio-specialized complex (June 2024) and ranking second nationwide in medical device exports (2024).
The future mobility industry is centered around Wonju (core components) and Hoengseong (finished vehicles, autonomous driving), with 12 projects totaling 240 billion won in progress. Five projects have been completed, and three more are scheduled for completion by the end of the year. The province aims to establish a comprehensive support system spanning development, testing, certification, and commercialization by next year.
Alongside infrastructure development, the province is leading “first-in-Korea (and only)” achievements such as: ▲ designation of a local government specialized training institution for future vehicle maintenance (September, Ministry of Land, Infrastructure and Transport), ▲ promotion of a global validation complex for future vehicles (October), and ▲ construction of a comprehensive autonomous driving validation complex (scheduled for completion in December 2026).
Meanwhile, this week will see a series of events related to the three major future industries-including forums, groundbreaking ceremonies, and completion ceremonies-taking place across the province.
In the semiconductor sector, the groundbreaking ceremony for the “Future Mobility Electronic Component System Semiconductor Reliability Verification Center” will be held in Wonju on October 28, followed by the “2025 Semiconductor Forum” in the same area from October 29 to 30.
In the biohealth sector, the “Advanced Bio Cluster Establishment Future Strategy Forum” will be held in Chuncheon on October 27, and the “Hongcheon National Antibody Cluster Completion Ceremony” will take place in Hongcheon on October 29.
In the future mobility sector, Hoengseong will host the unveiling ceremony for the “Specialized Training Institution for Future Vehicle Maintenance Technicians” on October 28, followed by the completion ceremony for the “E-Mobility Business Support Center and Battery Safety Evaluation Center” on October 30.
Governor Kim Jin-tae stated, “Until now, future industries have always been described as pledges, plans, or futuristic concepts, but now, with investments totaling 800 billion won, they are both a completed reality and an ongoing process. For next year, we are working to secure national funding to launch 39 new projects worth 105 billion won.” He added, “Gangwon’s future industries will continue to advance.”
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