Gyeonggi-do, 'ICT·SoBujang Convergence Hub'... Participates in Industrial Complex Renovation Contest

Production Value of the SoBuJang Industry Sector Reaches 4.6 Trillion Won, Creating 10,000 Jobs and Fostering 40 Small and Strong Enterprises

Stock photo [Asia Economy DB]

[Asia Economy Reporter La Young-cheol] Gyeonggi Province has decided to participate in the government's "Industrial Complex Renovation Contest" by designating the Ansan-Siheung Banwol-Sihwa National Industrial Complex as a "hub industrial complex" and the Seongnam General Industrial Complex and Seongnam Pangyo Techno Valley, including Hwaseong Balan General Industrial Complex, as "linked industrial complexes."

On the 31st, Gyeonggi Province announced, "We have submitted an application for the '2021 Industrial Complex Renovation Contest Preliminary Registration' hosted by the Ministry of Land, Infrastructure and Transport and have begun full-scale preparations for the selection of project sites."

The province plans to develop the Ansan-Siheung Banwol-Sihwa National Industrial Complex into a next-generation forward base for the materials, parts, and equipment industry integrated with advanced ICT, focusing on digital new deal manufacturing innovation, new industry job creation, professional workforce training, green new deal, and the establishment of a future-oriented industrial foundation.

By 2024, the plan is to increase production in the materials, parts, and equipment industry sector to 4.6 trillion won, create 10,000 jobs, nurture 40 small and strong enterprises, and expand the smart modernization of manufacturing plants to 120 companies.

To this end, the province will form the "2021 Industrial Complex Renovation Contest Participation TF Team" to discover highly feasible new projects and policies and focus on supplementing the business plan.

The province will emphasize to the government that manufacturing in the province accounts for 25% of domestic manufacturing production, that the Gyeonggi area is an optimal production and logistics hub equipped with human resources, transportation networks, and urban infrastructure, and that it also has a vast consumer market.

The contest will have preliminary site selection at the "Competitiveness Enhancement Promotion Committee" meeting scheduled for March, followed by budget review and plan supplementation procedures, and from December, full-scale project implementation will begin through agreements between the government and metropolitan cities and provinces.

The "Industrial Complex Renovation Contest" is a cross-government initiative led by the Ministry of Trade, Industry and Energy and the Ministry of Land, Infrastructure and Transport since last year to revitalize the economy and create jobs by transforming industrial complexes, the backbone of domestic manufacturing, into regional industrial innovation hubs.

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