The approval for the industrial complex plan of the Yongin system semiconductor national industrial complex will be moved up by three months, from the first quarter of next year to within this year. To attract investment corporations for the Yeosu LNG hub terminal, scheduled for completion in 2027, "clean fuel supply industry" will be added to the opportunity development special zone tax reduction targets.
The government has decided to closely support 14 large-scale "investment projects" nationwide, including the Yongin semiconductor industrial complex and the Yeosu LNG terminal, in terms of regulation and taxation. Among them, seven projects worth about 10 trillion won will speed up, with plans to break ground within the year.
On the 18th, the government finalized and announced the "corporations and regional investment activation plan," which includes these details, at the Economic Relations Ministers' Meeting and the Investment Promotion Ministers' Meeting. The government aims to support the swift operation of planned investment projects amid concerns over reduced corporation investment due to recent domestic and international conditions.
◇ Focus on 14 locations including Yeosu LNG, Pohang secondary battery, and Tongyeong tourism
The government will first concentrate support on 14 investment projects nationwide. Among these, seven projects, including the Saemangeum secondary battery specialized complex and the Gwangju AI (Artificial Intelligence) convergence district, amounting to about 9.3 trillion won, will receive more concentrated support to make investment visible by starting construction in the next year.
Specifically, there is a method of support through shortening administrative procedures. The Yongin system semiconductor national industrial complex plans to complete the approval of the industrial complex plan within this year by shortening the administrative procedures for environmental, traffic, and disaster assessments by three months from its initial goal of the first quarter of next year. The Gwangyang Gubongsan tourism complex project will advance the administrative procedures, such as changing conserved forest land, by more than six months, allowing for early construction next year.
They also support regulatory improvements. The Tongyeong integrated marine tourism complex project will push for the transfer of adjustment authority, such as fishery resource protection zones, to local governments to shorten review periods, and the "clean fuel supply industry," such as LNG, will be added to the opportunity development special zone tax reduction target industries to strengthen incentives for corporations investing in the Yeosu LNG hub terminal.
The government assists in infrastructure development and conflict resolution. The Pohang Blue Valley secondary battery specialized complex plans to prepare water supply measures until the completion of new water facilities, and the completion schedule for new water facilities will be moved up from the existing 2031 plan to 2030. In the Ochang Technopolis industrial complex, they plan to supply initial power from June next year by starting early construction of power facilities for mass production of cathode materials, seven months ahead of the original schedule.
◇ Improve greenbelt and environmental impact assessment regulations to promote corporation investment
Additionally, the government will improve various systems to enable corporations to make smooth investment decisions, with a focus on promising fields. They plan to use regulatory sandboxes to conduct a pilot project in Daejeon city for a trackless tram, which is emerging as a new mode of transport. A research study will be conducted in the first half of next year to improve the investment and operation methods of professional sports stadium facilities to an advanced country level, addressing the limitations of the current local government operations. Plans are also underway to include 'environment-friendly data center design, development, and operation' technology in the advanced technology eligible for foreign investment cash support, allowing provinces to attract environment-friendly data centers.
They will also revamp relevant systems to allow corporations to invest in desired sites. For advanced national industrial complexes designated as national strategic projects, they plan to allow the removal of development restrictions even in areas with environmental assessment grades 1 and 2. The "Rural Autonomous Regulation Innovation Zones," where local governments can establish and propose regulatory and financial support packages tailored to regional characteristics, will be designated and operated as 10 pilot areas by the year after next.
The current single-type environmental impact assessment system will be changed to a swift, general, and in-depth three-type framework. Business with minor environmental impact will be processed "swiftly," while the others will proceed with general and in-depth evaluations based on the issues. Support will also be provided for securing funds for corporations' eco-friendly investments, such as increasing the climate response fund loan limit per corporation from the current 1 trillion won to 2 trillion won.
The government said, "We will continuously manage the tasks included in this measure to promptly lead to investments," adding, "We plan to continuously discover and supplement investment support tasks through the 'Expanded Investment Express Meeting' in the future."