Yeongam-gun, Daebul National Industrial Complex Structural Improvement Gains Momentum

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[Yeongam=Asia Economy Honam Reporting Headquarters Reporter Choi Jae-kyung] The Daebul National Industrial Complex located in Yeongam-gun, Jeollanam-do, has been selected as a preliminary area for the 2022 Industrial Complex Renovation Project promoted by the government.

On the 26th, the Ministry of Land, Infrastructure and Transport announced that the Old Base Industrial Complex Competitiveness Enhancement Promotion Committee preliminarily selected five sites as regional base industrial complexes for this year's industrial complex renovation, including Daebul National Industrial Complex, Pohang National Industrial Complex, Daejeon Industrial Complex, Cheonan 3rd General Industrial Complex, and Cheongju Industrial Complex.

The industrial complex renovation project centered on Yeongam Daebul National Industrial Complex has selected Yeongam Samho General Industrial Complex, Haenam Hwawon Industrial Complex, and Mokpo Sapjin Industrial Complex as linked areas, aiming to become a hub for the production of eco-friendly small and medium-sized ships and offshore wind power equipment.

The southwestern industrial complexes in Jeollanam-do are leading domestic shipbuilding industrial complexes, housing world-class shipyards such as Hyundai Samho Heavy Industries and Daehan Shipbuilding, and are pioneers in eco-friendly ship manufacturing through the world's first LNG propulsion ship demonstration and construction.

Additionally, geographically adjacent to the world's largest offshore wind power complex (8.2GW), it is an optimal location that can create synergy with the ‘Jeonnam-type Win-Win Job Project,’ which aims to attract and nurture 450 companies and create 120,000 jobs.

Jeollanam-do and Yeongam-gun will promote 25 detailed projects focusing on three major areas in the southwestern industrial complexes: ▲ transformation into intelligent digital innovation complexes ▲ fostering eco-friendly shipbuilding and offshore wind power specialized complexes ▲ realization of low-carbon green complexes.

With a total project cost of 361.9 billion KRW (257.8 billion KRW national funds, 75.1 billion KRW local funds, 29 billion KRW private investment) invested over three years, it expects to create 6,000 jobs by 2025, increase production by 34% (2.3 trillion KRW) compared to 2021, and diversify industries by 118% (70 companies) compared to 2021.

Going forward, four local governments including Jeollanam-do and Yeongam-gun, along with regional innovation institutions, will form the ‘Jeonnam Southwestern Industrial Complex Renovation Promotion Council (tentative name)’ and plan to finalize detailed project plans by the end of the year in consultation with the government.

A Yeongam-gun official stated, “Through the industrial complex renovation project, we will do our best to improve the condition of the aging Daebul National Industrial Complex, strengthen the competitiveness of the shipbuilding industry, lead future new industries such as eco-friendly ships, and contribute to regional economic development and job creation.”

Meanwhile, the industrial complex renovation project is a cross-ministerial regional job creation project aimed at transforming industrial complexes, the backbone of domestic manufacturing, into regional industrial innovation hubs, according to the ‘Industrial Complex Renovation Plan’ announced by the Government Job Committee in November 2019.

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