Gwangyang Economic Zone Authority Holds Joint Investment Attraction Workshop with Related Organizations

by Heo Seonsik

Published 23 Dec.2023 10:37(KST)

Updated 14 Aug.2025 22:05(KST)

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Jeonnam TP Discusses Strengthening Investment Attraction Cooperation with Port Authority and Others

The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sang-rak, hereinafter referred to as GFEZ Authority) announced that it held the ‘2023 Joint Workshop for Investment Attraction of Related Organizations’ on the 21st at Hadong Kensington Resort, attended by about 100 executives and employees from related organizations within the GFEZ.

This workshop was organized under the consensus that cooperation and coordination among related organizations within our region are more urgently needed than ever in the current situation where competition among local governments nationwide is fierce in attracting companies and securing talent. The event brought together investment attraction departments from Jeonnam Technopark, Yeosu Gwangyang Port Authority, as well as Yeosu City, Gwangyang City, Suncheon City, and Hadong County.

[Photo by Gwangyang Economic Promotion Agency]

The first presenter, Yang Kwang-sik, Head of Overseas Marketing at the GFEZ Authority, focused on the status and cases of foreign investment attraction, emphasizing that for attracting overseas capital, it is important to foster coexistence between foreign-invested companies and local residents, and that the person in charge must have a long-term perspective and maintain steady efforts.

This September, the GFEZ Authority successfully attracted a $50 million investment from Narada Energy, the Korean subsidiary of Narada Power, the leading company in the Chinese ESS and communication (UPS) battery market, to the Yulchon Industrial Complex.

The second presenter, Lee Jung-kwan, Director of Corporate Promotion at Jeonnam Technopark, explained the ‘localization’ theme, the promotion plan of the Local Era Committee, and the comprehensive five-year plan for the local era in Jeollanam-do.

The main contents include the creation of a global smart port at Gwangyang Port (KRW 1.5586 trillion), the connecting road from the south road of Yulchon Industrial Complex to the port road of Gwangyang Port (KRW 311.8 billion), and the establishment of a carbon-neutral ecosystem (KRW 15.5 trillion).

The last presenter, Lee Jae-woo, Specialist at YGPA, introduced the Yeosu Gwangyang Port hinterland complex, its phased expansion plans, and the overall procedures for moving into the port hinterland complex, providing practical assistance to investment attraction officers in consultations with companies.

Song Sang-rak, Commissioner of the GFEZ Authority, said, “I hope this workshop will strengthen the bonds among employees of related organizations and become a place of harmony and communication,” adding, “To foster the Gwangyang Bay Area Free Economic Zone as a hub for new industries and to get ahead in competition with other local governments, close cooperation and information sharing among related organizations are essential, so we must further solidify these relationships.”