Groundbreaking Ceremony for 360,000-Pyeong Yeongju Advanced Bearing National Industrial Complex... Completion Targeted for 2027

Yeongju City will hold the groundbreaking ceremony for the Yeongju Advanced Bearing National Industrial Complex at 2:00 p.m. on September 26, across from the main gate of KT&G in Jeokseo-dong, Yeongju.

The event will be attended by approximately 700 people, including Acting Mayor Yoo Jeonggeun of Yeongju, officials from Gyeongbuk Province, Yeongju City, and Gyeongbuk Development Corporation, local residents, and business representatives. Prior to the main ceremony, there will be fusion Korean traditional music and Nanta performances. The main event will proceed with a commemorative performance, a business progress report, commemorative and congratulatory speeches, and a group photo session.

Yeongju Advanced Bearing National Industrial Complex (Aerial View)

The Yeongju Advanced Bearing National Industrial Complex is being developed with the goal of localizing core bearing components and stabilizing the supply chain. It is home to the nation’s only high-tech bearing technology center, which has earned high marks for its industrial infrastructure and location. The complex received approval for its industrial complex plan from the Ministry of Land, Infrastructure and Transport in 2023. Through a revision notice in 2025, the development area was finalized at 1,179,109.9 square meters (approximately 360,000 pyeong), with completion targeted for 2027.

Bearings, in particular, are essential components for future key industries such as electric vehicles and semiconductors. Localization is imperative to achieve supply chain independence and manufacturing technology competitiveness, making bearings a strategic item. Therefore, the creation of this industrial complex carries significant meaning beyond simple regional development; it is a crucial step toward strengthening the nation’s manufacturing competitiveness.

Yeongju is gaining attention as a hub for related industries, thanks to its specialized industrial base in mechanical parts, excellent educational and human resources, and ease of site acquisition. With the establishment of this industrial complex, Yeongju is expected to emerge as the center of the K-Bearing industry. The complex is also anticipated to have positive effects on the local economy, including attracting more companies, linking upstream and downstream industries, and creating jobs.

Acting Mayor Yoo Jeonggeun of Yeongju stated, "This groundbreaking ceremony is more than just the start of construction; it is a major step forward for Yeongju to become a leader in future manufacturing innovation. We will focus all our efforts on developing the bearing industry as a future growth engine for Yeongju."

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