POSCO Plans Large-Scale Investment in Gwangyang... Expected Benefits from 'The Sharp Gwangyang Lake Centum'

Gwangyang, Jeonnam is solidifying its steps as a hub for advanced new industries.

Under the existing "Enforcement Decree of the Act on Industrial Sites and Development," only steel-related industries were allowed on the site, making it difficult to respond to rapidly changing industrial trends. However, in October this year, the amendment to the enforcement decree to promote investment in advanced new industries in the Gwangyang National Industrial Complex was approved at the Cabinet meeting, creating an opportunity for the development of new industrial sectors.

Accordingly, POSCO announced that it will invest 4.4 trillion KRW over 10 years in advanced projects such as supplying key materials for secondary batteries and developing green energy for hydrogen reduction steelmaking on the Donghoan site in Gwangyang. POSCO plans to establish Donghoan as a secondary battery and hydrogen energy cluster and is confirmed to invest more than 30 trillion KRW in hydrogen reduction steelmaking after 2032 in connection with this.

With POSCO's investment plan, the Gwangyang region is expected to see a boost in the local economy along with the creation of quality jobs. Some experts anticipate that this will greatly contribute to balanced regional development, breaking away from the concentration of large corporations in the Seoul metropolitan area and promoting joint development between the metropolitan area and local regions.

Meanwhile, 'The Sharp Gwangyang Lake Centum,' located in Madong, Gwangyang, which is rich in living infrastructure, is scheduled for sale in January 2024. This apartment complex, consisting of 9 buildings ranging from 3 basement floors to a maximum of 29 floors above ground, with units sized between 84 and 159㎡, totaling 925 households, is expected to offer both proximity to workplaces and a pleasant living environment.

The complex is close to POSCO Gwangyang Steelworks, Gwangyang National Industrial Complex, Myeongin Industrial Complex, and Yulchon Industrial Complex, with excellent transportation conditions. Accessibility to and from Gwangyang city via Jungmaro and Jungmajungang-ro is excellent, and it is easy to travel via Donggwangyang IC and Yi Sun-sin Bridge. Additionally, it offers beautiful views of Gayasan Mountain and is located in one of Gwangyang’s prime residential areas near Madong Ecological Park and Madong Reservoir.

Abundant living infrastructure is another advantage. It is adjacent to major commercial areas such as large marts and government offices, and the Gwangyang Community Center is within walking distance. Nearby are Korean Creative Arts High School, which is accessible by walking, as well as elementary, middle, and high schools, a public library, and academies.

The model house for 'The Sharp Gwangyang Lake Centum' is scheduled to open in January 2024.

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