Gwangyang FEZ Authority Breaks Ground on Sepung General Industrial Complex Development Project

RE100-Based Future High-Tech National Industrial Complex

and Semiconductor Cluster Integration

The Gwangyang Bay Area Free Economic Zone Authority (hereinafter referred to as Gwangyang FEZ Authority) announced on March 5 that it held the groundbreaking ceremony for the Sepung General Industrial Complex (hereinafter referred to as Sepung Industrial Complex) development project in Sepung-ri, Gwangyang-eup, Gwangyang City, and officially commenced construction for the development of industrial infrastructure.

More than 200 people attended the event, including officials from South Jeolla Province and Gwangyang City, related organizations, representatives from tenant companies, and local residents, signaling the official start of the project. The ceremony included a pre-event, a progress report, commemorative remarks, and a groundbreaking performance, gathering the local community's expectations and commitment for the development of the Sepung Industrial Complex.

On the 5th, at the groundbreaking ceremony for the Sepung General Industrial Complex Development Project held in the Sepung-ri area of Gwangyang-eup, Gwangyang City, guests including Chunggon Koo, head of the Gwangyang Bay Area Free Economic Zone Authority, wore safety helmets and participated in a commemorative performance. Provided by Gwangyang Free Economic Zone Authority

The Sepung Industrial Complex project aims to enhance the industrial competitiveness of the Gwangyang Bay Area by establishing essential infrastructure for corporate activities, such as roads, water supply, and drainage facilities, thereby creating a stable investment environment.

This public development project, which has now broken ground, covers 1.33 million square meters (400,000 pyeong) in Sepung-ri, Gwangyang-eup, Gwangyang City, with a total project cost of 381.3 billion won. The project is targeted for completion by 2030. Its significance lies in the shift to a public development approach to ensure timely supply of industrial land and project stability, as well as in the completion of related administrative procedures, which has solidified the foundation for its advancement.

Furthermore, there are plans to develop Sepung Industrial Complex as an eco-friendly industrial complex capable of implementing RE100, leveraging the abundant renewable energy resources such as onshore and offshore wind power and solar power found in the South Coast region of Jeollanam-do, and to pursue its designation as a future high-tech national industrial complex.

With the realignment of global supply chains and the strengthening of carbon neutrality standards, major companies are now making the use of renewable energy a prerequisite for business transactions and investments. Accordingly, the need to preemptively establish industrial complexes equipped with eco-friendly power infrastructure is growing. Industrial complexes based on RE100 are evaluated as key requirements for securing export competitiveness and attracting global corporations.

The Gwangyang FEZ Authority intends to strategically attract industries such as semiconductors, future mobility, advanced functional materials, and eco-friendly material and component industries, all linked to the region’s eco-friendly energy infrastructure, and to cluster related industries, thereby fostering Sepung Industrial Complex as a core semiconductor cluster for the South Coast region.

If a semiconductor cluster is established around Sepung Industrial Complex, a feasibility study projects an economic ripple effect of 430.9 billion won in production inducement, 188.8 billion won in value-added inducement, and the creation of 2,888 jobs in the region.

Additionally, based on 966,834 square meters of industrial land, it is expected that more than 80 companies will move in, contributing to regional economic revitalization and the creation of quality jobs.

Chungkon Koo, Commissioner of the Gwangyang FEZ Authority, stated, "The Sepung Industrial Complex development project marks an important turning point, transitioning from preparation to the execution phase. We will thoroughly prioritize and manage construction safety, and create a competitive industrial complex that serves as a hub for semiconductors and other advanced strategic industries."

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