Gwangyang Economic Zone Authority Holds Meeting with Steel Industry Expert Group

Attracting Investment in New Material High Manganese Steel Related Industries

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sang-rak, hereinafter referred to as Gwangyang Economic Authority) announced that it held the '2022 Gwangyang Economic Authority Steel Sector Expert Group Meeting' on the 23rd to explore ways to develop the steel industry and attract companies.

At the meeting held in the conference room of the Venice Hotel in Yeosu, a specialized lecture on the 'Characteristics of Eco-friendly High Manganese Steel for Fuel Tanks' related to new material high manganese steel was given, and a free discussion on investment attraction plans, including discovering potential investment companies in promising steel industry sectors, was conducted.

The experts attending the meeting mentioned that it is desirable to actively attract investments from related companies such as LNG terminal site conditions, eco-friendly marine plants using new materials, LNG bunkering, cryogenic storage tanks, and equipment.

They also called for the expansion of cargo volume at Gwangyang Port through revitalization of the industrial complex in the Gwangyang Bay Area Free Economic Zone by establishing a new industrial ecosystem.

Song Sang-rak, Commissioner of the Gwangyang Economic Authority, stated, "We will continue our efforts to make the Gwangyang Bay Area a strategic hub in promising steel industry sectors utilizing new materials such as high manganese steel."

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

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