Changwon Special City, Full-Scale Shift to New Growth Industry Ecosystem for the Next 50 Years Begins

Designation of Masan Free Trade Zone as National Industrial Complex
First Digital Free Trade Zone Designation Nationwide Confirmed

Hong Nampyo, Mayor of Changwon Special City in Gyeongnam, visited the core project sites of Masan Free Trade Zone and Masan Marine New City on the 16th to lay the foundation for Changwon's next 50 years.

Group photo at Masan Free Trade Zone.

Afterwards, he held a meeting at Gyeongnam National University with Kim Igeun, Chairman of Changwon City Council, Moon Sangsik, Mayor of Hapogu District, and Lee Hwayoung, Mayor of Hoewon District, to discuss the establishment of a new industrial ecosystem in Changwon.

Mayor Hong decided to make Masan his first site visit after participating in CES 2024 in the United States and immediately proceeded with the schedule.

He visited the site to commemorate the good news continuing from the new year of 2024, the Year of Gapjin, including the designation of the ‘Digital Masan Free Trade Zone’ and the designation of the Masan Free Trade Zone as a national industrial complex.

Mayor Hong first attended a meeting at the Masan Free Trade Zone Management Office on the theme of ‘Designation as a National Industrial Complex and the Re-advancement of Masan Free Trade Zone.’

At the meeting, Mayor Hong said, “The companies residing in the Masan Free Trade Zone, which suffered disadvantages due to low building-to-land ratio and exclusion from national support projects, are now finally receiving equal treatment, but we must plan and push beyond that.”

He also discussed activation plans for the Masan Free Trade Zone such as ‘abolishing killer regulations in industrial complexes’ and ‘linkage with the Digital Masan Free Trade Zone,’ presenting a blueprint for building a new industrial ecosystem.

Mayor Hong visited CTR, which produces and exports electric vehicle parts. CTR is a representative small and medium-sized enterprise in Changwon with over 70 years of history, recording sales of 178.8 billion KRW last year.

Mayor Hong encouraged the staff, saying, “I personally feel what Changwon City must do for resident companies,” and “We will ensure there are no gaps in implementing detailed strategies for the re-advancement of the Masan Free Trade Zone.”

At Masan Marine New City, he received a progress report on the ‘designation of the Digital Masan Free Trade Zone.’

Group photo of Masan Marine New City.

Mayor Hong stated, “As the first free trade zone designated nationwide, we will thoroughly review support measures and activation plans for resident companies,” and “We will open export channels for D.N.A companies through linkage with Changwon’s manufacturing industry, which is its root.”

The ‘Digital Masan Free Trade Zone,’ to be designated first nationwide, is a space for the agglomeration of D.N.A (Data, Network, A.I) companies. The goal is to construct a 20-story D.N.A Innovation Town.

The city plans to apply for a preliminary feasibility study this year to secure approximately 290 billion KRW in national funding.

At the final visit site, the international seminar room of Gyeongnam National University, a meeting was held among industry, academia, research, and government to build a new industrial ecosystem in Changwon and foster creative talent.

Attendees included Park Jaeyoon, Vice President of Gyeongnam National University; Jo Youngtae, BK Project Group Leader of Changwon National University; about 10 science and engineering professors; Yoo Sehyun, Director of Korea Electronics Technology Institute; and Oh Yanghwan, Chairman of Gyeongnam ICT Association.

At the meeting, discussions were held regarding the ‘designation of Masan Free Trade Zone as a national industrial complex’ and the ‘designation of the Digital Masan Free Trade Zone,’ focusing on ▲attracting and supporting D.N.A companies ▲fusion with manufacturing industry ▲talent cultivation and development through national support projects (such as the super-large manufacturing AI demonstration project and global gaming support center).

Mayor Hong said, “With the establishment of the first national industrial complex in Masan (Masan Free Trade Zone) and the nation’s first Digital Masan Free Trade Zone, a foundation has been laid to build a new industrial ecosystem,” and “We will lay the cornerstone for Changwon’s next 50 years and develop detailed strategies for a major transformation of the industrial ecosystem one by one.”

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