<Translated with Google Translate.>
Selected as ‘Future Car Materials/Parts/Equipment Specialized Complex’ by Gwangju Metropolitan City

- By 2028, 600 billion won will be invested to create 2.2 million pyeong of Future Car, Bitgreen, and Jingok Industrial Complex
- Specialized in autonomous driving sensor/control/communication parts… Establishment of AI-based mobility foundation
- 70 companies willing to invest KRW 1.9 trillion… Expected employment of 16,000 people and economic stimulus of 3 trillion won
- Mayor Ki-Jung Kang “Focus on the early development of the Future Car National Industrial Complex and Specialized Equipment Complex”

Gwangju City, which hosted the ‘1 million pyeong Future Car National Industrial Complex’, was finally selected in the ‘Future Car Materials/Parts/Equipment Specialized Complex’ contest. As a result, Gwangju City is able to build a solid foundation for becoming the “Artificial Intelligence (AI)-based mobility city in Korea.”

Gwangju Metropolitan City (Mayor Kang Ki-jeong) announced on the 20th that it was finally selected as the “materials, parts, and equipment specialized complex” in the future car sector in the “materials, parts, and equipment industry specialization complex” contest hosted by the Ministry of Trade, Industry and Energy.

The ‘Gwangju Future Car Headquarters Specialized Complex’ invests a total project cost of KRW 600 billion by 2028 to build a future car triangle belt of about 2.2 million pyeong by linking the existing Bitgreen National Industrial Complex, Jingok Industrial Complex, and the newly designated Future Car National Industrial Complex. do.
※ Future Car National Industrial Complex (3,384,000㎡), Bitgreen National Industrial Complex (1,847,000㎡), Jingok Industrial Complex (1,909,000㎡)

In this contest, 13 local governments nationwide, including Gwangju City, applied and competed fiercely. Gwangju City applied for the automobile field, and was finally confirmed after recognizing excellence in written and presentation evaluation.

The government will intensively nurture 150 core technologies for the purpose of strengthening the national competitiveness of the materials, parts, and equipment industries and improving supply stability. In the automobile sector, 15 technologies are designated to support research and technology development, human resource training, and infrastructure.
In particular, the key to this project is to establish a value chain between anchor companies and partners to create a virtuous cycle in the parts industry and improve the localization rate.
※ Anchor business: A company or leading company that plays a leading role.
※ Value Chain: Connectivity of all direct and indirect activities to create added value

As the automobile industry accounts for 43.1% of the local manufacturing industry, the city of Gwangju actively responded to the transition to future vehicles such as self-driving cars, and participated in the ‘Songbujang Specialized Complex’ contest project to discover next-generation foods and revitalize the local economy.

In addition, it plans to speed up the creation of the ‘1 million pyeong National Industrial Complex for Future Cars’, which was first selected in March, to attract competitive anchor companies and major partners.
In fact, as a result of a survey on investment intentions by Gwangju City, 70 companies expressed their intention to invest about 1.9 trillion won, and about 100 local parts companies hoped to switch to future cars. In addition, 147 companies expressed their intention to move into the newly designated Future Car National Industrial Complex.

Representatively, Gwangju Global Motors (GGM), a finished car company, and LG Innotek, Korea Alps, an anchor company, submitted a letter of intent to participate. Kia and Hyundai Mobis also expressed their stance that they would actively cooperate.

Gwangju City plans to specialize in ▲ cognitive sensor ▲ control parts ▲ communication system by developing autonomous driving parts, which are core technologies for future cars. ‘Sensor’ is a technology that converts vehicles, objects, and the environment into information using infrared rays, radio waves, and lasers. ‘Control’ refers to power transmission technology for controlling, managing, and operating vehicle parts, as well as technologies such as power conversion, power transformation, and power stabilization. ‘Communication’ is a technology that communicates between a vehicle and its surroundings or devices.

Gwangju City's selection of the 'Sobujang Specialized Complex' secures key businesses to enter the Future Car National Industrial Complex, enabling early activation, and raising the localization rate of autonomous vehicle parts, a specialized field, from less than 50% to more than 80%. expect it to be

In addition, it is predicted that 568 local parts companies centered on internal combustion engines will be able to gain momentum in technology development and new product launches following the conversion of future vehicles and the completion of the value chain between anchor companies and parts companies. In addition, economic inducement effects such as employment inducement effect of 16,000 people, production inducement effect of 3 trillion won, and added value effect of 1 trillion won are expected.

Gwangju Mayor Kang Ki-jeong said, "Following the designation of the National Future Car Industrial Complex in March, Gwangju has reached an important turning point in moving forward as a leading future car city by attracting a specialized complex for materials/parts/equipment for future cars." We will form a dedicated team so that the project for the development of the Sobujang Specialized Complex can be established at an early stage,” he said.