Yeosu Gwangyang Port Authority Announces Recruitment of Tenants for Gwangyang Port Marine Industry Cluster

Lease period within 10 years, renewable up to a maximum of 50 years

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik] Yeosu Gwangyang Port Authority (President Park Seonghyun, YGPA) announced on the 26th that it is recruiting tenant organizations for the 4th Gwangyang Port Marine Industry Cluster.

Opened in 2020 as Korea's first marine industry cluster, the Gwangyang Port Marine Industry Cluster provides dedicated research and development (R&D) testbed facilities supporting the aggregation and convergence of marine industries such as marine logistics, maritime transportation, marine resources, marine tourism, and marine energy.

The facilities available for this recruitment are two R&D testbed zones (117,130㎡) and eight research office zones (total floor area 7,825㎡).

The basic lease period is up to 10 years, and it can be renewed for up to 50 years through consultation with the authority.

The application period is from the 26th to October 27th, and organizations wishing to move in should refer to the application guide announced on the authority’s website and submit their business plans by 5 p.m. on October 27th.

In this recruitment, the lease conditions have been significantly improved by reflecting the opinions raised by organizations and companies so far.

Previously, the lease was provided on the condition of using both research offices and R&D testbeds simultaneously, but this time, applicants can choose to use either offices or testbeds.

Additionally, the R&D testbed lease conditions have been relaxed by abolishing the minimum lease area requirement of 4,000㎡, allowing applicants to apply for the area they need.

In particular, according to the activation plan for the Gwangyang Port Marine Industry Cluster, from July 1st, a temporary rent reduction benefit of up to 40% will be provided to both new and existing tenant organizations (applying a sunset principle on a yearly basis, with reductions until the occupancy rate reaches 70%).

President Park Seonghyun said, “We expect that by revitalizing R&D in maritime port logistics through recruiting tenant organizations for the marine industry cluster, Gwangyang Port will be developed into a smart integrated port and the competitiveness of Korea’s maritime port industry will be enhanced.”

He added, “Since we have improved lease conditions to enable excellent organizations and companies engaged in maritime port logistics R&D to move in smoothly, we ask for your great interest in this recruitment.”

Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik hss79@asiae.co.kr

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