JEJU-DO < invest Korea

The Jeju Special Self-Governing Province Government Building [Photo by JeJu Province]

According to Newsis,

Jeju special self-governing province will create a new industrial complex with a size of around 100,000 square meters.

According to the Jeju Special Self-Governing Province on the 2nd, a research on the feasibility study and establishment of basic plan for the smart green industrial complex in Jeju are in progress. The government announced to invest KRW 170 million from mid-June to September next year for the research under the name of 'Establishment of a basic plan and feasibility study for the establishment of an industrial complex to attract new growth industries in Jeju'.

The research will give a solution for the lack of proper location when attracting businesses in the province and for the lack of industrial complex that conforms to the eco-friendly and digital environment. The government is considering to create a new industrial complex to increase the added value of the industrial structure with attracting promising companies in the new industries.

The research will include analysis of current status, finding sites with proper area to develop, selection of the optimal location, and target businesses to attract. Among the three sites identified already, one site will be suggested the optimal location by the research.

The provincial government plans to discuss with the Ministry of Land, Infrastructure and Transport(MOLIT) on the research. Until the end of this year, the MOLIT plans to establish a smart green industrial complex roadmap.

A provincial official said “The Smart Green Industrial Complex is different from the existing Jeju Advanced Science and Technology Complex in reducing carbon emissions from the construction stage and building an intelligent power grid for renewable energy production and supply. The research will be carried out in line with the Ministry of Land, Infrastructure and Transport’s smart green industrial complex plan.” he added.

Meanwhile, a smart green industrial complex refers to a complex that promotes energy independence and eco-friendliness of resident companies, infrastructure, residential facilities, and support facilities. The Korean government plans to expand the number of complexes to 35 by 2030. Companies will get benefits such as ▲ priority in industrial sites ▲ land price reduction ▲ permission to use of renewable energy directly.

73jmlee@newsis.com

Source Text

Copyrights Newsis. All Rights Reserved.
Reprint of redistribution without permission is prohibited

Source: Newsis (August, 2, 2022)

** This article was translated from the Korean.