- Business Opportunities
- E-Mobility Industry
Development of the e-Mobility Industry
Gangwon-do is fostering innovative industries for the future by attracting e-mobility businesses and supporting their projects.
Laying the Foundation for the e-mobility Industry, which Will Follow the Success of Gangwon’s Bio and Medical Devices Industries
Amidst the Fourth Industrial Revolution shifting the paradigm of global economy and bringing a seismic change in the industrial structure, Gangwon-do sought new industrial areas that will drive economic growth following the traditional manufacturing sectors of automobile parts, bio and medical devices. Having selected the e-mobility industry as the new strategic field that will represent the era of the Fourth Industrial Revolution and bring significant spillover effects across the upstream and downstream of industries and economy, Gangwon-do is building the ecosystem of related industries centering on Ucheon Industrial Complex in Hoengseong. In 2017, Gangwon-do attracted Dpeco, a mini-sized EV manufacturer, in Ucheon Industrial Complex in Hoengseong, followed by the signing of a memorandum of understanding between the Gangwon Hoengseong Electric Mobility Technology Research Association and the Korea Electric Vehicle Cooperation (KEVCOOP). Gangwon-do is focusing on boosting the e-mobility industry with the construction of a manufacturing plant capable of producing up to 40,000 cars per year and a test drive road in April 2020. After the official government certification of its mini-sized electric truck named POTRO in August 2020, Dpeco launched the full-fledged production of EVs from October 2020.
Gangwon-do’s e-mobility Project Designated as the Government’s Regional Job Creation Project for Joint Prosperity
In addition, the Ministry of Trade, Industry and Energy held the second meeting of the Regional Job Creation for Joint Prosperity Deliberation Committee in October 20, 2020 and selected Heongseong’s job model as a Job for Joint Prosperity. Heongseong’s job model centers on organizing a cooperative of small- and medium-sized EV enterprises in Ucheon Industrial Complex for the sharing of profit and risk and producing mini-sized EVs by investing a total of KRW 74.2 billion and hiring 503 employees. The car manufacturers and suppliers that have joined the cooperative will share the surplus profit and save costs by sharing logistics and sales networks. At the same time, labor and management guarantee fair wages and a job-oriented wage system while Gangwon-do supports efforts to improve the employees’ residential conditions and business environment.
An Investment of KRW 68 billion in R&D Projects and the Construction of a Business Support Center
Gangwon-do also plans to invest KRW 20 billion for five years starting from 2019 to assist the R&D of EV and parts manufacturers operating in Gangwon-do. Gangwon-do also established a plan of investing a total of KRW 68 billion including KRW 48 billion funded by central and local governments in building an e-moilbility business support center needed for EV testing and certification. Based on the investment made by businesses relocating to Ucheon Industrial Complex in forms including the construction of manufacturing plants, Gangwon-do will continue to provide policy support by creating high-quality jobs and linking the industrial complex with the automobile part industry in Wonju.
※ An investment of KRW 74.1 billion and a direct hiring of 503 employees by seven businesses as a part of the government’s Regional Job Creation Project for Joint Prosperity.