Two Additional Specialized Industrial Complexes for Display and More to Be Established in Asan, Chungnam

Two industrial complexes specialized in the display and automobile sectors will be additionally established in Asan, Chungnam.

On the 20th, Chungnam Province announced that it has given final approval and public notice for the development plans of the ‘K-Valley Asan General Industrial Complex’ in Sandong-ri, Eumbong-myeon, Asan City, and the ‘Asan Sinchang General Industrial Complex’ in Omok-ri, Sinchang-myeon.

The K-Valley Asan General Industrial Complex is a specialized complex for the display industry. It is being developed to foster small and medium-sized enterprises in line with the government’s semiconductor and display industry development strategy, and to provide medical services to industrial complex workers and vulnerable groups in the region. The total project cost is 337.4 billion KRW, and the development site covers 570,000㎡ (170,000 pyeong).

Chungnam Province expects economic ripple effects from the development of the K-Valley Asan General Industrial Complex to include a production inducement amount of 1.0538 trillion KRW, a value-added inducement amount of 421.5 billion KRW, totaling 1.4753 trillion KRW, and employment inducement of about 6,500 people.

The Sinchang General Industrial Complex will be developed as a specialized industrial complex for the automobile industry cluster, covering 480,000㎡ (140,000 pyeong) with an investment of 133 billion KRW. Chungnam Province plans to promote the relocation of automobile industry-related companies from the metropolitan area and secure industrial growth momentum through the concentration and support of regional strategic industries.

Additionally, it will be developed as a customized industrial complex centered on demand to respond to new industry needs and to revitalize the local economy through job creation.

The production inducement amount expected from the Sinchang General Industrial Complex development is 611.4 billion KRW, the value-added inducement amount is 190.7 billion KRW, and employment inducement is expected to be about 2,700 people.

To ensure the successful development of the industrial complexes, Chungnam Province is currently promoting a project to expand nearby local road No. 624 in Eumbong-myeon (Sandong Intersection?Sandong-ri) over a 2 km section and city/provincial road No. 5 in Sinchang-myeon (Gadeok Intersection?Namseong 1-ri) over a 2.7 km section from two lanes to four lanes with national funding support.

In addition, pipeline support projects are being carried out simultaneously to reduce the cost of industrial complex development and to ensure smooth supply of industrial water to tenant companies and living water to workers.

A Chungnam Province official stated, “The development of the K-Valley Asan Industrial Complex and Sinchang General Industrial Complex will serve as a catalyst for advancing the foundational industries by attracting small and medium-sized enterprises in Asan’s regional specialized display industry and creating an automobile industry cluster.” He added, “We will spare no effort to support companies to move in at the right time to create quality jobs and promote the development of the local community.”

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