Pohang Blue Valley National Industrial Complex Attracts 50 Billion Won Investment... Pohang City Promotes Corporate Investment as 'Blue Chip'

On the 17th, Pohang City signed a memorandum of understanding to attract 50 billion won in investment to the Blue Valley National Industrial Complex.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Pohang City, Gyeongbuk, has attracted an investment worth 50 billion KRW to the Blue Valley National Industrial Complex.

On the 17th, Pohang City signed a memorandum of understanding for investment worth 50 billion KRW with two companies promoting factory construction within the Pohang Blue Valley National Industrial Complex at City Hall.

The steel pipe manufacturing specialist company, Geuma Pipe Co., Ltd., which signed the investment MOU that day, plans to invest 10 billion KRW by 2024 to build a steel pipe production factory on a 20,055㎡ site within the Pohang Blue Valley National Industrial Complex.

The main products are steel pipes for automobile parts and piping steel pipes. This investment is an expansion following existing factories in Busan and Gyeongju, and Geuma Pipe Co., Ltd.'s steel pipe production capacity is expected to increase to 140,000 tons annually.

Bangsan Co., Ltd. plans to invest 40 billion KRW by 2023 to build a construction refractory material production factory on a 36,052㎡ site within the Pohang Blue Valley National Industrial Complex by recycling waste refractory materials.

Bangsan Co., Ltd.'s investment is the world's first to produce eco-friendly construction refractory materials by recycling acidic and neutral waste refractory materials generated from steel mills, enhancing the local and national environmental brand image and creating new economic opportunities.

The Pohang Blue Valley National Industrial Complex is designated as a Battery Regulatory Free Zone and is equipped with R&D infrastructure related to batteries and steel, such as the Secondary Battery Integrated Management Center and Steel Pipe Technology Center.

Also, as a rental-only industrial complex, it offers land at low rental fees, reducing initial investment costs for companies and easing the burden on resident companies.

Pohang City is striving to diversify its industrial structure away from its main steel industry. Administrative efforts are focused on attracting new growth industries such as batteries, hydrogen, and advanced new materials to the Blue Valley National Industrial Complex.

Recently, the POSCO Chemical anode material factory was completed and is currently undergoing test operations, and through attracting investments from advanced new material companies like Graphene Square, it is advancing as a national core industrial complex responsible for future economic growth.

Mayor Lee Kang-deok of Pohang said, “The Pohang Blue Valley National Industrial Complex is an optimal site for future new growth industries and is designated as a rental-only industrial complex, providing an opportunity to reduce initial investment costs for companies.”

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