industrial complex Archives | Be Korea-savvy
Gov’t Launches New “Innovation Park” Initiative

Gov’t Launches New “Innovation Park” Initiative

SEOUL, Apr. 25 (Korea Bizwire) — The government will push ahead with an industry-academic cooperation project to attract companies and research institutes to the sites inside university campuses and build residential and welfare facilities to create high-tech industrial complexes. The Ministry of Education announced on Wednesday that it will sign a business agreement with the [...]

S. Korea to Create ‘Negative Zones’ to Allow Service Sector Businesses in Industrial Complexes

S. Korea to Create ‘Negative Zones’ to Allow Service Sector Businesses in Industrial Complexes

SEOUL, Apr. 19 (Korea Bizwire) — The South Korean government plans to introduce ‘Negative Zones’ that lift restrictions on the types of businesses that can operate in an industrial complex. The new initiative, for instance, will allow industrial complexes that used to accept only one kind of business, such as manufacturing companies, to open up [...]

Jeju Island’s Seogwipo Innovation City to Lead MICE Industry

Jeju Island’s Seogwipo Innovation City to Lead MICE Industry

JEJU, Oct. 26 (Korea Bizwire) — A smart MICE industrial complex will be built in Jeju Island’s Seogwipo Innovation City. The Ministry of Land, Infrastructure and Transport (MOLIT) announced on Thursday that Jeju Island’s “reputation as an international tourist attraction thanks to convenient traffic, accommodations, and abundant tourist resources make it a perfect spot for [...]

Chemical Firms to Invest 10 tln Won in Upgrading Industrial Complex

Chemical Firms to Invest 10 tln Won in Upgrading Industrial Complex

SEJONG, Sept. 14 (Korea Bizwire) — South Korea’s major chemical companies will join forces to invest 10 trillion won (US$8.84 billion) in upgrading an industrial complex on the west coast, the government said Thursday. Lotte Chemical Corp., S-Oil Corp. and Hanwha Total Petrochemical Co. signed a memorandum of understanding with the provincial government for the [...]

Ulsan’s Industrial Complex Suffers amid Economic Slump

Ulsan’s Industrial Complex Suffers amid Economic Slump

ULSAN, South Korea, Jan. 11 (Korea Bizwire) – The Onsan National Industrial Complex in Ulsan, a key city for shipbuilding and petrochemical industries, is suffering its worst financial crisis since its establishment in 1974. According to local sources, some 30 factory sites have been put up for sale since last year, and it is the [...]

Kaesong-Based Firms Bask in Decent Growth: Data

Kaesong-Based Firms Bask in Decent Growth: Data

SEOUL, Jan. 19 (Korea Bizwire) — The overall earnings of ten South Korean companies that are operating in a jointly-run inter-Korean industrial complex have increased by an average of over 10 percent per year since 2005, data showed Monday, indicating that they have been doing relatively well despite political tensions that have emerged over the [...]