The government has selected three additional aging industrial complexes to receive funding for infrastructure improvements, covering half of the costs for roads, parking lots, parks, and green spaces. The maximum support amount is 500 billion won per complex.
According to the Ministry of Land, Infrastructure and Transport, proposals for the "2026 Aging Industrial Complex Revitalization Project" will be accepted from local governments until November 24. After evaluations by an expert committee, three project sites will be selected in December.
The revitalization project aims to upgrade and expand infrastructure such as roads, parking lots, and parks in industrial complexes that have been in operation for over 20 years. The government will cover 50% of the costs, with a maximum limit of 500 billion won per site. The project encourages changes in land use plans to facilitate the relocation of industries in line with shifts in industrial structure, such as advanced industries, and to promote mixed development of industrial, commercial, and support functions.
The number of aging industrial complexes continues to rise. As of the end of last year, out of 1,370 industrial complexes nationwide, 520 had been in operation for over 20 years, accounting for 38%. The ministry projects that by 2030, the number of aging complexes will increase to 757, representing 52%, and by 2035, it will reach 995, or 63%.
This year's proposal evaluation will consider regional balance, eco-friendly transitions, and worker safety and convenience. A "local preference index" will be used to give additional points to local governments facing more challenging conditions for project implementation, taking into account their distance from Seoul, the level of regional development, and the risk of regional extinction.
To promote the green transition of industrial complexes, the government will also support the installation of renewable energy facilities, such as solar panels, when upgrading infrastructure like roads and parking lots. Additionally, it plans to support the expansion of roads for fire truck access and the establishment of new parking lots to prepare for potential factory fires.
New parking structures will not only provide parking spaces but also include facilities such as cafes, libraries, and sports and cultural amenities for workers.
Since 2009, the Ministry of Land, Infrastructure and Transport has been promoting the revitalization of aging industrial complexes, having selected and supported a total of 54 sites to date. If three more sites are selected in this round, the total will increase to 57. Earlier this year, the Namdong National Industrial Complex and Wonju Industrial Complex were included in the revitalization project.
Last year, the ministry also conducted a call for proposals for the revitalization project, raising the maximum government support limit to 500 billion won and seeking to recruit up to five project sites.
Park Ji-hong, head of the Ministry of Land, Infrastructure and Transport's Urban and Land Division, stated, "Revamping aging industrial complexes to align with future industrial environments is a crucial task for achieving national transformation and balanced growth. We will strive to comprehensively improve industrial infrastructure and working conditions so that corporate investment and innovation can lead to regional growth."
* This article has been translated by AI.
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