Jeonnam Province, Fully Committed to Developing High Value-Added Ports

[Muan=Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] Jeonnam Province is putting all its efforts into fostering high value-added ports.

The province announced on the 31st that, together with related organizations such as Yeosu Gwangyang Port Authority, it will convert the Sepung General Industrial Complex into a port hinterland to solve the shortage of rental land in the Gwangyang Port hinterland and will expedite the development of the northern port hinterland.

Developing new hinterlands and port redevelopment takes more than five years and requires a large budget.

As of the end of last month, 33 companies have moved into the 1.95 million square meter eastern hinterland of Gwangyang Port, and 22 companies have moved into the 1.94 million square meter western hinterland.

Since occupancy is expected to be completed within this year, expanding the designation of the hinterland is urgent.

Accordingly, the province plans to purchase 330,000 square meters of the first phase of the Sepung General Industrial Complex and convert it into a port hinterland in cooperation with the Ministry of Oceans and Fisheries, Yeosu Gwangyang Port Authority, and Gwangyang Bay Area Free Economic Zone Authority.

This is evaluated as a proactive administrative case of converting a general industrial complex into a port hinterland for the first time in the country.

The site planned for inclusion in the port hinterland was designated as a land port area by the Ministry of Oceans and Fisheries in December last year.

Since then, on the 6th, Jeonnam Province, Yeosu Gwangyang Port Authority, Gwangyang Bay Area Free Economic Zone Authority, and Sepung Industrial Complex Development Co., Ltd. signed an agreement to expand the Gwangyang Port hinterland and are promoting the project.

Along with this, by 2025, 26.2 billion KRW will be invested to additionally secure 107,000 square meters of the northern hinterland, and the Yulchon 2 Industrial Complex and Yulchon Convergence Logistics Complex will be developed early to continuously expand the port hinterland.

Wi Gwanghwan, Director of the Marine and Fisheries Bureau of Jeonnam Province, said, “By generating its own cargo volume in the port hinterland, we will establish a foundation for revitalizing Gwangyang Port,” and added, “We will actively attract excellent manufacturing companies to create a high value-added Yeosu Gwangyang Port.”

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