Ministry of Land, Transport and Maritime Affairs Designates Jeonnam Hampyeong Livestock Specialized Agro-Industrial Complex as Investment Leading Zone

(Data from the Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport announced on the 13th that Hampyeong-gun, Jeollanam-do's 'Livestock Specialized Agricultural and Industrial Complex' will be designated as an investment-leading district supported by the government.

An investment-leading district is a system that discovers and supports strategic industries to foster regions with development potential, such as local specialized resources, as regional growth hubs and to activate private investment.

Depending on the region, various benefits such as national funding for infrastructure installation, regulatory exemptions, and tax and charge reductions are provided.

The Hampyeong Livestock Specialized Agricultural and Industrial Complex is a project in which Hampyeong-gun invested approximately 48 billion KRW by 2022 through a public development method to create a livestock specialized complex on a 318,564㎡ site.

Due to the agriculture-centered industrial policy pursued so far, the region's production base has been weak and its competitiveness in attracting companies has lagged, resulting in continued economic stagnation in the area.

With the designation of this investment-leading district, the plan is to induce economic revitalization by linking the high added value of the local specialized resource, Hampyeong Hanwoo, with themed tourism such as the Hampyeong Butterfly Festival.

The Ministry of Land, Infrastructure and Transport will support 8.36 billion KRW in national funds for infrastructure installation, including the newly established access road and theme park for the creation of the Hampyeong Livestock Specialized Agricultural and Industrial Complex.

Since 2015, the Ministry has promoted investment-leading districts annually through competitive projects. Including the Hampyeong Livestock Specialized Agricultural and Industrial Complex, a total of eight districts have been designated.

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