[2020 National Audit] Kim Jeonghwan "New Industry Innovation Forward Base... Focus on 7 Projects"

SanDanGong Reborn as a Hub for Job Creation
SanDan Innovation Grand Overhaul Project
Establishing Energy Self-Sufficient Green SanDan

Kim Jeong-hwan, President of Korea Industrial Complex Corporation

[Asia Economy Reporter Kim Daeseop] The Korea Industrial Complex Corporation (KICOX) is promoting seven major projects, including transforming industrial complexes nationwide into hubs for regional economic revitalization, new industries, and manufacturing innovation.

According to the work status report submitted by KICOX on the 13th to the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee, KICOX will actively implement the "Industrial Complex Grand Renovation Job Creation Project," which focuses on supporting industrial complexes as innovation hubs for regional industries. The core of the project is to go beyond supporting the regeneration and advancement of individual industrial complexes by collaborating with regional innovation entities to establish innovation plans that connect industrial complexes, related complexes, and surrounding areas.

KICOX plans to support regions that establish innovation plans expected to create excellent jobs and economic ripple effects and aims to expand these efforts nationwide in the future.

Additionally, KICOX will strengthen the "Smart Green Industrial Complex" project centered on existing smart industrial complexes to foster digital and green industry ecosystems within the complexes. The goal is to create energy self-sufficient green industrial complexes by connecting and sharing industrial energy data based on information and communication technology (ICT), going beyond improving energy efficiency for individual companies. The plan is to establish 15 smart green industrial complexes by 2025.

"Aging Industrial Complex Structural Advancement" is also one of the key projects. The goal is to enhance vitality in industrial complexes by expanding private investment through incentives and regulatory improvements and creating youth-friendly environments. Efforts will be made to resolve job mismatches by improving working and living conditions tailored to the characteristics and field demands of each industrial complex. The complexes will be developed as hubs for startups and new industry creation.

Other major projects include ▲ Strengthening competitiveness of industrial clusters ▲ Advanced management and safety enhancement of industrial complexes ▲ Comprehensive support for corporate growth and creation of good jobs ▲ Supply of industrial sites and facilities and industrial policy research.

There are 1,223 industrial complexes nationwide (national complexes, general complexes, urban high-tech complexes, and agro-industrial complexes). Industrial complexes account for 67% of South Korea's total manufacturing production, 67.3% of exports, and 48.6% of employment. However, due to outdated production infrastructure and a lack of cultural, welfare, residential, and convenience facilities, the competitiveness and vitality of industrial complexes are declining.

KICOX is entrusted with the management of national industrial complexes, for which the government holds management rights, and manages other complexes upon request from the management rights holders. KICOX manages and supports 64 complexes out of the 1,223 nationwide, accounting for 35% of domestic manufacturing production, 31% of exports, and 23% of employment.

Kim Jeonghwan, Chairman of KICOX, said, "Through policy projects entrusted by the government, KICOX is doing its best to enhance the competitiveness of about 50,000 small and medium manufacturing enterprises and is making industrial complexes hubs for regional economic revitalization, new industries, and manufacturing innovation. We will do our utmost to strengthen manufacturing competitiveness and expand companies' innovation capabilities."

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