Saemangeum Industrial Complex Accelerates Construction of 'Automobile Export Complex Center'

Jeollabuk-do, Gunsan-si, and Korea Rural Community Corporation Sign Business Agreement
Private Contractor Selection in First Half of This Year, Construction to Start Within the Year... Opening Targeted for 2023
Expected Production Induction 99.3 Billion KRW, Added Value 78.2 Billion KRW, Employment Induction 1,043 People

[Asia Economy Reporter Jo Gang-wook] The Saemangeum Development Agency announced on the 17th that it has signed a business agreement with Jeollabuk-do, Gunsan City, and the Korea Rural Community Corporation to establish the "Saemangeum Automobile Export Complex Center (tentative name)."

Through this agreement, they plan to establish a cooperative system to ensure smooth acquisition and utilization of the project site, accelerating the creation of new regional added value and securing future growth engines. Key cooperation items include mutual efforts for project schedule promotion, land use adjustment, profitability assurance, and contribution to regional economic revitalization during the construction and operation of the complex center.

This project, initiated in December 2018 as part of the government's "Regional Vitality Recovery Project" for industrial crisis response areas, will be promoted on a scale of 197,824㎡ in the Saemangeum Industrial Complex (Section 5) with a budget of 105 billion KRW, including private funds.

A private business operator will be selected in the first half of this year, with construction starting within the year and aiming for opening in the first half of 2023. It is expected to generate 99.3 billion KRW in production inducement, 78.2 billion KRW in added value, and create 1,043 jobs. Additionally, early execution of land purchase costs is anticipated to invigorate the development of the Saemangeum Industrial Complex.

The complex center will move away from the existing yard-style used car sales complex to become an advanced distribution and logistics hub and an automobile complex cultural space. It plans to include major facilities such as an export business center, a sales company residential complex, and maintenance, tuning, and parts complexes.

In particular, to reduce energy consumption and greenhouse gases, zero-energy buildings that minimize energy use and utilize renewable energy are planned, which is expected to create a synergy effect with the smart green industrial complex currently being promoted in Saemangeum.

Yang Chung-mo, Administrator of the Saemangeum Development Agency, said, "Since the Saemangeum Industrial Complex is forming a cluster in the future car sector as a strategic industry, it has the optimal location for the automobile export complex center to be established," adding, "We will do our best to make it a forward base for the automobile export market."

Kang Im-jun, Mayor of Gunsan City, emphasized, "Since this project is being promoted to recover the economy of Gunsan, which has reached its limits as an employment and industrial crisis area, we will concentrate administrative power to ensure its success and contribute to the regional economy and the Saemangeum project."

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