Gangdong-gu Receives Minister of Trade, Industry and Energy Award for Regional Industry Promotion Contributions

'3 Gae Simjang Project' Wins Ministerial Award for Regional Economic Revitalization... Transforming into a People-Centered Self-Sufficient Industrial Complex... Expected Job Creation and Economic Stimulus Effects

Lee Jeong-hoon, Mayor of Gangdong-gu

[Asia Economy Reporter Jong-il Park] Gangdong-gu (Mayor Lee Jeong-hoon) has achieved the great feat of receiving the Minister of Trade, Industry and Energy Award in the regional economic revitalization category at the ‘2020 Regional Industry Promotion Merit Awards’ hosted by the National Balanced Development Committee and the Ministry of Trade, Industry and Energy.

The Regional Industry Promotion Merit Awards recognize individuals or organizations that have contributed to national balanced development by promoting regional industry and enhancing competitiveness.

The project for which Gangdong-gu received the ministerial award is the ‘Three Hearts Project - High-tech Business Complex, Godeok Biz Valley, Gangdong General Industrial Complex,’ a key initiative promoted by the district.

It was highly evaluated for the leading role played by the local government in creating jobs, strengthening regional industrial competitiveness, and revitalizing the local economy.

Among the three industrial complexes, the High-tech Business Complex, completed first in 2015, is the first successful case of a business complex development carried out at the local government level, which had previously been promoted at the metropolitan government level. This marks an important starting point for Gangdong-gu to step out of being a bedroom community and become a self-sufficient city where growth and distribution occur.

Currently, the High-tech Business Complex houses 11 medium-sized companies including Samsung Engineering, based on advanced, knowledge-based, and software industries, employing about 10,000 skilled workers.

The largest complex, Godeok Biz Valley, is scheduled to accommodate about 150 large, medium, and small enterprises starting in 2022. Seventeen companies including Silla Trading, KEPCO KDN, and Cuckoo Electronics (31 companies including consortium members) have confirmed their move-in to the knowledge industry center. Land supply for the remaining plots will proceed by the end of September, and all office-use plots are expected to be supplied within this year.

Additionally, in 2025, Godeok Biz Valley will feature a large-scale complex facility consisting of IKEA Korea, a cinema, a shopping mall, and offices.

The last project among the Three Hearts Project, the Gangdong General Industrial Complex (knowledge-based convergence complex) development project, was conditionally approved by the Seoul Metropolitan Industrial Complex Planning Review Committee on July 2, putting the project on track for full-scale development.

Gangdong General Industrial Complex plans to focus on attracting engineering industries with high industrial ripple effects and develop a digital engineering industrial complex integrating big data and artificial intelligence technologies.

Advanced Business Complex

Lee Jeong-hoon, Mayor of Gangdong-gu, stated, “Once the High-tech Business Complex, which has entered the settlement phase, and the two economic complexes, Godeok Biz Valley and Gangdong General Industrial Complex, are all completed, Gangdong will be reborn as a premium self-sufficient city creating over 20 trillion won in economic value and 110,000 jobs.” He added, “Encouraged by the Regional Industry Promotion Award, we will do our best to promote the Three Hearts Project through attracting excellent companies.”

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