Incheon Regional and Mechanical Industrial Complexes to Promote 'Root and Advanced Industry Convergence' Regeneration Project with 27.2 Billion KRW Investment

Regeneration projects will be promoted for the Incheon Local Industrial Complex and Incheon Machinery Industrial Complex, which were established in the 1970s. On the 24th, Incheon City announced that these two industrial complexes were finally selected in the Ministry of Land, Infrastructure and Transport's 'Aged Industrial Complex Regeneration Project' contest.

The aged industrial complex regeneration project aims to enhance the competitiveness of industrial complexes by expanding and improving insufficient infrastructure, worker convenience facilities, and support facilities in aged industrial complexes that have been under construction for more than 20 years. In Incheon, this is the third project following the Namdong National Industrial Complex (selected in 2015) and Bupyeong-Juan National Industrial Complex (selected in 2020), and it is the first time for a general industrial complex to be selected.

Accordingly, the city will invest 27.2 billion KRW (13.6 billion KRW from the national government and 13.6 billion KRW from the city) from next year until 2028 to implement regeneration projects for the Incheon Local Industrial Complex and Incheon Machinery Industrial Complex.

The city presented the vision of 'Realizing a happy job and cultural space where industry and culture coexist' with the following strategies: ▲ expanding and maintaining aging and insufficient infrastructure and support facilities ▲ structural advancement through convergence of root industries and advanced industries ▲ improving the image as a cultural and smart industrial complex.

By expanding and maintaining infrastructure such as public-led parking lots, parks, and road environment improvements, the city plans to establish a base for the regeneration project and ultimately induce private development to revitalize the industrial complexes and enhance their competitiveness.

Location map of Incheon Local Industrial Complex and Incheon Machinery Industrial Complex [Provided by Incheon City]

All of these industrial complexes were established in the 1970s and suffer from an absolute lack of infrastructure, support, and convenience facilities, resulting in poor working conditions for workers as well as low productivity for companies. This has been pointed out as a cause of labor shortages, decreased operating rates, and declining competitiveness of the industrial complexes.

As of the end of May this year, the Incheon Machinery Industrial Complex (1.136 million ㎡) houses 183 companies, and the Incheon Local Industrial Complex (350,000 ㎡) houses 578 companies, with about 9,500 workers employed in both locations.

An official from Incheon City said, "Through the regeneration project, we plan to shed the image of aging industrial complexes and create an eco-friendly industrial complex where young people want to work," adding, "We hope that Incheon’s manufacturing industry will once again leap forward and become the cornerstone of the industrial complexes."

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