JEOLLABUK-DO < invest Korea

According to Yonhap News,

The second-phase core project to foster Saemangeum as a 'Center of green new deal and new industries' will be pushed for in earnest from this year.

The Administrator Yang Choong-mo of the Saemangeum Development and Investment Agency (SDIA) presented a roadmap for the project on January 12, saying, "We will proceed with the development of Saemangeum that can be actually felt by people."

The business plan was laied out in four areas: the development and expansion of renewable energy; promotion of waterfront cities and special economic zones and logistics infrastructure; establishment of tourism/cultural and eco-friendly infrastructure; and active investment attraction of future industries.

The SDIA also plans to expand renewable energy by starting construction of inland solar power generation, followed by floating solar power and wind power generation projects within this year.

Starting this year, the residents who participated in the inland solar power project will be distributed of profits, as a way to encourage citizen-participatory development.

In addition, the agency will endeavor to pass a preliminary feasibility study for a 'Green Hydrogen Production Cluster' equipped with an integration facility that produces, stores, and utilizes hydrogen.

The waterfront city, which will become the central living space of Saemangeum, is set to complete the detailed design in May, select a constructor, and commence construction within the year.

The goal is to create a self-sufficient city with 25,000 population on the complex development site (6.6 ㎢).

It will also designate the project operator of a special port economic zone, which will accelerate the Saemangeum project, and devise a special airport economic zone creation plan.

The agency will also build a tourism leisure complex to establish the infrastructure for tourism, and start construction of Sinsido hotel, which will be used for the World Jamboree, in the first half of this year.

It plans to commence construction of the National Saemangeun Reclamation Museum, and develop new tourism contents such as K-pop festival and yacht competition.

In addition, it will attract companies of the strategic projects such as future vehicles, secondary battery, and renewable energy, while actively going all-out to attract investment customized to the nation and region.

jaya@yna.co.kr

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Source: Yonhap News (January 12, 2022)