Gwangyang FEZ Authority Achieves 4.9 Trillion Won in Investment Attraction This Year

Accelerating Industrial Transformation Amid Steel and Petrochemical Downturn
15 Companies Confirm Investments

The Gwangyang Bay Area Free Economic Zone Authority (headed by Koo Choong-gon, hereinafter referred to as Gwangyang FEZ Authority) announced that it had achieved a total of 4.9 trillion won in investment attraction for the year 2025.

Despite adverse conditions such as the global economic slowdown and stagnation in the steel and petrochemical industries, the Authority’s selective investment attraction focused on strategic industries has been recognized as a key factor behind these results.

A panoramic view of Gwangyang Bay Area Free Economic Zone Authority.

This year’s performance far exceeds the average annual investment attraction of 1.8 trillion won over the past three years (2022-2024), marking the largest achievement since the Authority’s establishment. It is seen as an indicator that the Gwangyang Bay Area is accelerating its shift from a heavy chemical industry-dependent structure toward a new industrial portfolio centered on next-generation growth industries.

By sector, eco-friendly next-generation industries, such as secondary batteries, led the overall results. Six companies, including POSCO Future M, accounted for an overwhelming share by committing to invest 4.7594 trillion won.

In the metal processing sector, four companies including Intoal Co., Ltd. pledged a total investment of 58.8 billion won, while in the logistics and distribution sector, two companies including Yeonwoo Co., Ltd. committed to 8.2 billion won in investments.

In the tourism and leisure sector, HJ The Ocean Resort Co., Ltd. decided on an investment of 50 billion won, and two general manufacturing companies, including Kingtops, pledged a combined 51.2 billion won.

As a result, a total of 15 companies have confirmed investments in the Gwangyang Bay Area this year, with the creation of 611 new jobs expected. This is significant not only for the increase in investment volume but also for the potential to strengthen employment and the local industrial base.

Meanwhile, as the downturn in the steel and petrochemical industries has become prolonged, the government designated Yeosu City as a preemptive industrial crisis response area on April 30 this year, and Gwangyang City on November 20. In addition, the “Special Act on Strengthening Competitiveness and Supporting the Petrochemical Industry” passed the National Assembly plenary session and is set to take effect in the first quarter of 2026, providing institutional support for the restructuring of the industrial structure in the Gwangyang Bay Area.

The Gwangyang FEZ Authority plans to continue focusing on nurturing next-generation industries and attracting strategic investments in connection with government support policies next year, while also providing customized support for corporate settlement and improving residential conditions. The Authority aims to turn the crisis of deteriorating external conditions into an opportunity for industrial transformation and to expand the foundation for sustainable growth.

Koo Choong-gon, head of the Gwangyang FEZ Authority, stated, “Despite the complex crises of low growth in the steel and petrochemical industries, changes in the U.S. trade environment, and global oversupply, strategic investment attraction and tailored corporate support have produced tangible results. In 2026, we will continue to promote the creation of an innovation ecosystem, improve residential conditions, and implement effective corporate support policies to further enhance the industrial competitiveness of the Gwangyang Bay Area.”