Saemangeum Mega Special Zone Initiative Gains Momentum... Hyundai Motor Investment Accelerates

Prime Minister Kim Minseok has revived the plan to develop Saemangeum into a "mega special zone," which is expected to accelerate discussions on transforming Jeonbuk’s future industries in conjunction with Hyundai Motor Group's investment commitments.

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According to Jeonbuk Special Self-Governing Province on April 20, the second meeting of the "Saemangeum·Jeonbuk Grand Innovation Task Force" was held, chaired by Prime Minister Kim Minseok and attended by relevant ministries, the Saemangeum Committee, Jeonbuk Province, and Hyundai Motor Group, among others. The meeting reviewed the progress of Hyundai Motor Group’s investment agreement and focused on comprehensive government support measures to facilitate large-scale private investment.

At the meeting, Prime Minister Kim outlined a direction to foster Saemangeum as a "mega special zone" where global-level regulatory innovation would be applied, in connection with ongoing regulatory reform discussions. He also proposed significantly easing regulations in new industries such as autonomous vehicles and robotics, and envisioned Saemangeum as a testing ground for a wide range of technological demonstrations. In particular, he made it clear that new industrial experiments should begin in Saemangeum.

On this day, Prime Minister Kim emphasized the need to attract investment from major corporations into underdeveloped areas while building a structure that combines artificial intelligence (AI), automobiles, energy, and the agri-bio industry. He also indicated that this would serve as the starting point for the government’s national land transformation policy.

Previously, at the "K-National Policy Briefing" held in Jeonbuk on January 19, Prime Minister Kim had stated his intention to foster Jeonbuk as a testbed for future industries. At that time, he highlighted Saemangeum, physical AI, and green bio as key pillars and stressed the necessity of restructuring the local economy around new industries.

In line with these moves, a plan to designate all of Saemangeum as a regulatory easing zone and promote advanced industry demonstrations-the so-called "Global Mega Sandbox" initiative-is also being pursued as a national policy. The strategy aims to enhance investment incentives by supporting the entire industrial ecosystem, rather than limiting special exemptions to individual companies.

Jeonbuk Province plans to focus its administrative efforts on elevating Saemangeum as a hub for future industries, using this task force meeting as a turning point. Alongside supporting the smooth implementation of Hyundai Motor Group’s investment project, the province will also pursue follow-up policies such as the creation of an RE100 industrial complex and the expansion of Opportunity Development Zones.

Yang Sunhwa, Director of the Future Advanced Industry Bureau of Jeonbuk Province, said, "At the provincial level, we will strengthen our cooperation system with the central government and related agencies to promptly support Hyundai Motor Group’s investment, and we will participate in the grand innovation of Saemangeum and Jeonbuk."

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