'Reestablishment of Aging Industrial Complex Structural Upgrading... 4 Sites Including Banwol-Sihwa'

Korea Industrial Complex Corporation
Industrial Complexes Over 10 Years Since Structure Advancement Plan Establishment

Panoramic view of Banwol National Industrial Complex, Gyeonggi / Photo by Korea Industrial Complex Corporation

[Asia Economy Reporter Kim Daeseop] The Korea Industrial Complex Corporation has launched a research project to reestablish the structural advancement plan for aging industrial complexes. The structural advancement plan will be reorganized for aging industrial complexes where 10 years have passed since the initial plan was established.

According to the Industrial Complex Corporation on the 3rd, the deadline for bid registration and proposal submission for the research project to reestablish the structural advancement plan for aging industrial complexes is on the 5th. The regions for this reestablishment project include four locations: Gyeonggi Banwol-Sihwa, Namdong, Jeonbuk Iksan, and Gyeongbuk Gumi industrial complexes. These complexes have surpassed 10 years since their structural advancement plans were first established.

This research project is being conducted in accordance with the Industrial Cluster Act. According to the law, the managing agency must establish a structural advancement plan every 10 years for industrial complexes that have passed 20 years since their construction start date. The project duration is 100 days from the commencement date.

Structural advancement of industrial complexes refers to projects aimed at enhancing competitiveness and improving working environments through upgrading resident industries, expanding cultural welfare and convenience facilities, among others. Changes in industrial structure due to the Fourth Industrial Revolution and global low growth demand new transformations and roles for industrial complexes.

The Industrial Complex Corporation plans to analyze the current status and competitiveness of the complexes through this research project. It will investigate industrial complex operation status, production, exports, employment, and economic trends over the past 10 years. Additionally, it will propose structural advancement strategies based on analyses of potential, opportunity factors, and threats to the complexes.

It will also explore the selection of key industries for focused development and their advancement plans. Higher-level plans such as urban and regional industrial development plans will be reviewed, along with strategic industry development plans from central administrative agencies and metropolitan/local governments overseeing the respective complexes. The goal is to ensure that development plans for the complexes and their surrounding cities are mutually linked.

In particular, through analysis of industrial trends and policy factors, specialized industries for each complex will be identified, and key industries for focused development will be finalized. Development plans for these key industries, including industry modernization and high value-added strategies, will be proposed.

An official from the Industrial Complex Corporation emphasized, "Innovation of aging industrial complexes through structural advancement projects is necessary to enhance manufacturing competitiveness and to enable the national economy to leap forward."

They added, "After the initial structural advancement plan was established, we will analyze the changed status of the complexes and reflect recent industrial trends and policy factors to present goals, strategies, and future visions for industrial complex development. We will also establish comprehensive plans by envisioning the future state of lands and other assets expected to undergo changes and development."

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