Kim Hoe-jae Elected Official Welcomes 'Yeosu Industrial Complex Selected as a Major Industrial Complex Renovation Area'

1.8 Trillion KRW Invested Over 3 Years... Creation of 15,000 Jobs

[Asia Economy Honam Reporting Headquarters Reporter Lee Hyung-kwon] Kim Hoe-jae, the elected member of the 21st National Assembly (Democratic Party of Korea, Yeosu-eul), announced on the 8th that he welcomes the selection of Yeosu National Industrial Complex as an ‘Industrial Complex Grand Remodeling Area’ by the Old Industrial Complex Competitiveness Enhancement Promotion Committee (hereinafter, the Committee).

The Industrial Complex Grand Remodeling is a regional job creation project that focuses on supporting industrial complexes, the backbone of domestic manufacturing whose importance has been highlighted after COVID-19, by linking them with adjacent industrial complexes or urban areas to create regional industrial innovation hubs.

Through this project, Yeosu National Industrial Complex plans to establish an ecosystem for next-generation materials and components industries such as secondary batteries linked to its main industries, chemical and steel.

Additionally, through integrated support from 11 ministries including the Ministry of Land, Infrastructure and Transport and the Job Committee, the project will simultaneously carry out regeneration of old industrial complexes, construction of Happy Housing, and maintenance of aging infrastructure, aiming to achieve ▲ creation of 15,000 jobs over three years ▲ increase in production by 35 trillion KRW ▲ 10% reduction in industrial accidents ▲ 15% reduction in air pollution emissions ▲ 15 billion KRW reduction in logistics costs.

Kim Hoe-jae said, “In the situation where the local economy has been contracted due to COVID-19, I welcome the designation as a grand remodeling area as it provides a new growth engine,” and added, “As a local member of the National Assembly, I will actively support the improvement and innovation of the aging industrial complex.”

He continued, “I plan to propose separate legislation to expand local fiscal contributions, local talent recruitment, and improvements in safety and environmental issues for industrial complexes not included in this plan,” and added, “I will do my best to realize the economic leap of Yeosu by embracing the will of Yeosu citizens who desire change and innovation, and furthermore, to establish Yeosu as a leading center for ‘South Coast Marine Tourism’ and ‘Next-generation Materials and Components Industry.’”

This content was produced with the assistance of AI translation services.