Moon Seong-yo, head of the Saemangeum Development and Investment Agency, says, "We will become a leading regional model where local communities and businesses grow together"

[Financial News, Gunsan = Reporter Jung Kyung-soo] Moon Seong-yo, Administrator of the Saemangeum Development and Investment Agency, said regarding Hyundai Motor Group’s large-scale investment plan announced in February, "We will become a leading regional model where local communities and businesses can grow together."
According to the Saemangeum Development and Investment Agency on the 14th, Administrator Moon made the remarks at a press briefing held at the Saemangeum Reclamation Museum on the 10th.
The SDIA’s proposed government budget for next year totals 222.2 billion won, including 216.6 billion won from the general account and 5.6 billion won from the Climate Response Fund. This is an increase of 7.4 billion won, or 3.4%, from this year. In particular, the budget supporting industrial infrastructure to help companies establish stable operations in Saemangeum expanded by 447%, from 4.6 billion won to 25.6 billion won. Newly allocated funds include 17.5 billion won for developing land for long-term leases, 500 million won for creating a robot cluster, and 400 million won for establishing a demand-responsive transportation service (DRT).
The proposed revision to the master plan calls for a shift from private investment-led development to public-led development, along with adjustments to the land-use system. An SDIA official said, "We collected opinions at resident briefings and from private-sector committee members," adding, "We explained our commitment to first completing the reclamation of 196.6 square kilometers and developing any subsequent demand through reserved land."
Hyundai Motor Group plans to invest approximately 9 trillion won in the development of a robot manufacturing plant worth 400 billion won, an AI data center worth 5.8 trillion won, a water electrolysis plant worth 1 trillion won, support for the development of an AI Hydrogen City worth 400 billion won, and a solar power facility worth 1.3 trillion won in Section 7 of Industrial Complex 1. The AI data center is particularly targeted to begin construction in March next year, with procedures such as architectural review starting this month. An SDIA official explained, "As we implement the government support measures established in May, we are holding continuous task force meetings to identify support projects and ensure that the investment proceeds without disruption."
Administrator Moon said, "About 20 companies, including Chinese business representatives, officials from the Ministry of Commerce, and representatives from the embassy in China, have visited us." He added, "The companies represented a range of industries, including secondary batteries and logistics and transportation. Although there have not yet been any official contacts with companies from other countries, we will actively seek to attract them in the future."
Regarding renewable energy, an official said, "We will gradually increase the installed capacity from 7 GW to 10 GW. The grid connection for 5 GW has currently been secured, and we will pursue the remainder in coordination with the government’s transmission network plan." On living conditions, the official said, "We are aware that transportation and residential conditions are inadequate," adding, "We will expand them in stages until demand increases with Hyundai Motor Group’s arrival and other developments."
Administrator Moon said, "I am approaching my work with the determination to work hard rather than dwell on concerns." He added, "I will do my utmost to ensure that Saemangeum becomes a future growth engine leading balanced national development, centered on advanced strategic industries such as robotics, AI, and hydrogen."
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