Four Additional Energy Industry Convergence Complexes Designated in Gyeongnam and Gyeongbuk... Government Support Strengthened

[Asia Economy Reporter Kim Bo-kyung] On the 19th, the Ministry of Trade, Industry and Energy designated four additional regions?Gyeongnam, Gyeongbuk, Busan·Ulsan, and Chungbuk?as 'Energy Industry Convergence Complexes' (hereinafter referred to as Convergence Complexes) following deliberation by the Energy Committee.

The government plans to establish the Convergence Complexes as hubs for fostering new energy industries and spreading the Green New Deal.

Support for companies located in the Convergence Complexes will be strengthened through local tax reductions, additional points for Ministry of Trade, Industry and Energy R&D, preferential treatment for regional investment promotion funds, and the government will push for amendments to the 'Energy Convergence Complex Act,' which provides the legal basis for such support.

In cooperation with local governments, R&D and demonstration projects necessary for nurturing key industries will also be identified. The government plans to support the solid operation of the Convergence Complexes by strengthening the linkage between regional energy policies and key industry development plans.

In the case of Gwangju·Jeonnam and Jeonbuk, which were selected as Convergence Complexes last year, the plans were reflected in the establishment of regional energy plans by linking the development of key industries and the construction of support infrastructure with the Convergence Complex plans.

Seong Yun-mo, Minister of Trade, Industry and Energy, emphasized in his opening remarks at the Energy Committee meeting that "the Convergence Complexes are representative examples of Green New Deal initiatives led by local regions."

Minister Seong stated, "Based on the region's energy infrastructure, we expect to attract excellent companies and research institutes and create quality jobs, thereby revitalizing the regional economy."

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