Invest KOREA

The Gwangyang National Industrial Complex was designated in February 1989 to promote the steel industry as the construction of the Gwangyang Steel Plant gave rise to the need to meet the needs of related industries and foster upstream and downstream industries as well as the transportation system. It is currently home to more than 190 companies, including POSCO, Sampyo Cement, and Halla Cement.

The Gwangyang National Industrial Complex has served as a pillar of Gwangyang's economic growth by attracting businesses in the upstream and downstream industries and transportation-related companies in the Gwangyang Steel Plant, but recently, the aging infrastructure has prevented new companies from moving in and investing.

Efforts are being made in various ways to tackle these problems and transform it into a forward-looking industrial complex. In 2023, it was selected in the 'Aged Industrial Complex Revitalization Project*', a public offering project led by the South Korean Ministry of Land, Infrastructure and transport (MOLIT). Out of the total project cost of KRW 10.5 billion, the company received KRW 5 billion in government funding to improve infrastructure such as parking lots, roads, and parks, and expand facilities for its workers to make it a business-friendly industrial complex.

In addition, it was selected as a 'Smart Green Industrial Complex**' in 2023, which will transform the Gwangyang National Industrial Complex into an eco-friendly forward-looking steel complex by achieving low-carbon process innovation and manufacturing digital transformation. The plan is to pursue fifteen projects based on three spatial strategies of creating an eco-friendly space, a new industry growth space and a space attracting young people.

In December 2023, the complex’s development plan was revised to allow high-tech new industries to move in, lifting the restriction that only allowed steel-related industries.

Jeonnam Province is committed to fostering future high-tech strategic industries to tackle climate crisis and meet the global goal of reaching net-zero. More specifically, the province is focusing on creating an ecosystem for secondary battery and hydrogen industries in the Gwangyang National Industrial Complex, with POSCO Group leading the effort.Going forward, POSCO Group plans to invest more than KRW 4.4 trillion over ten years to transform the Gwangyang National Industrial Complex into a hub for the secondary battery and hydrogen industries. An early implementation of POSCO Group’s investment plan is expected to enhance the country's industrial competitiveness, create high-quality jobs for local communities, and revitalize the local economy.

The Gwangyang National Industrial Complex is expected to rise again by reorganizing infrastructure, transforming into a smart green industrial complex, and attracting high-tech companies in new industries.