Saemangeum Development Gains Momentum… Hyundai Motor Group to Receive Support for 9 Trillion Won Investment
The government has announced a new strategy to accelerate the development of the Saemangeum region in Jeollabuk-do. The core of this reorganization is to shift the development method to a public-led approach and significantly expand industrial land available for corporate activities.
The government has decided to increase Saemangeum's industrial land to 37.5㎢, which is larger than the previous scale. This measure is intended to provide space for more companies to build factories and establish research facilities in Saemangeum. Through this, the government plans to revitalize the local economy and actively attract corporate investment.
In particular, the 9 trillion won investment by Hyundai Motor Group is at the center of this development strategy. The government stated that it would provide full administrative support to ensure that Hyundai Motor Group's large-scale investment proceeds smoothly. If corporate investment is successful, it is expected that related jobs will increase and provide a significant boost to the local economy.
This change aims to go beyond simple land development and create a model where companies and local communities grow together. The government and relevant agencies plan to continue building infrastructure and improving systems so that Saemangeum can establish itself as a hub for future industries.