Yeonggwang-gun Selected as an 'Investment Leading Zone'...Expectations for Regional Economic Revitalization

Published 21 Jul.2023 14:37(KST)

Yeonggwang-gun, Jeollanam-do, has been selected as an investment leading district in the ‘2023 Regional Development Contest Project’ hosted by the Ministry of Land, Infrastructure and Transport, securing 10 billion KRW in national funding.

According to the county on the 21st, the investment leading district (development promotion type) is a project aimed at promoting growth in regions where competitiveness is continuously weakening due to population and business concentration in the metropolitan area. It provides not only national funding support but also various benefits such as regulatory, tax, and levy reductions.

Yeonggwang County Office building. [Photo by Yeonggwang County]

This investment leading district (development promotion type) is the only one nationwide to receive a pure national subsidy of 10 billion KRW.

The county plans to create an e-mobility Complex and specialized parks in connection with the expansion project of the Daema Electric Vehicle Industrial Complex, which is a back-up complex for the e-mobility cluster.

The e-mobility Complex is expected to play a significant role in corporate growth and overseas export of e-mobility by including a human resources training center, future industry cooperation support group, and overseas export support group.

The specialized park will feature a dedicated track for the nationwide homemade car competition hosted by the Korean Society of Automotive Engineers. By holding all competitions in Yeonggwang, it is expected to support the cultivation of high-quality talent through cooperation among government, industry, academia, and research, as well as greatly contribute to revitalizing the local economy.

County Governor Kang Jong-man said, “We expect that designation as an investment leading district will give more momentum to attracting private companies and corporate growth,” adding, “We will actively support the development of future food industries in Yeonggwang-gun and strive further for industrial development.”