Yulchon 2nd Industrial Complex > Yulchon District > Investment Plan

Current Status of 1st Industrial Complex Project of Yulchon

project overview(1994~2022)

LocationSwath of Yulchon-myeon in Yeosu, Haeryong-myeon in Suncheon, and the sea in Gwangyang-eup, Gwangyang.
Area9.11㎢, 2.67 million pyeong (sale area 6.24, public facilities, etc. 2.87)
Project expensesKRW1,259.6 billion(government expenses 2,747, Local expenses 8,057, private expenses 1,792)
ImplementerJeollanam-do (Gwangyang Bay Area Free Economic Zone Authority)
Attraction businessprimary metal, assembly metal, machinery, manufacturing, etc.

Progress so far

1992. 06.
Yulchon 1st Regional Industrial Complex Designation Notice (Jeonnam-do)
1994. 12.
Starting of construction of Yulchon 1st Regional Industrial Complex (Hyundai Motors)
2003. 10.
Gwangyang Bay Area Free Economic Zone Designation Announcement (former Ministry of Finance and Economy)
2005. 12.
Termination of development contract for Yulchon 1st Regional Industrial Complex (Hyundai Motors)
2006. 01.
Starting of direct development by the Gwangyang Bay Area Free Economic Zone Authority
2012. 01.
~ 2020. 02.
Step-by-step partial completion’(6.21 million square meters in 2012, 0.23 million square meters in 2014, 1.94 million square meters in 2016, 0.43 million square meters in 2020)
2020. 03.
Completion of Yulchon 1st Regional Industrial Complex Construction

Construction of industrial complex (completed)

▶ project period: ‘94.12. ~ ‘20.3. ▹ business expenses : 1.2596 trillion won

▶ project volume: Site development 8.56 million ㎡, road building 31 km, etc.

󰁾 Incomplete: 2 privately implemented internal roads / L=1.4km(Orient Shipbuilding 0.7, POSCO 0.7)

󰁾 sale rate: 93.2%(5.87㎢ out of 6.30㎢ was sold), 153 lots (sale price KRW460,000/pyeong)

Future plans

Future plan For the Yulchon 1st Industrial Complex, which has a high sales rate, refrain from changing the implementation plan and instead promote sales to companies with a large attraction effect

Future plan'22. 12. Relocation for a secondary battery material manufacturing company (POSCO) and installation of infrastructure
- Infrastructure(Road L=1,437m, Implementers: Orient Shipbuilding, POSCO). when the infrastructure is finished, the project is completed.

Current Status of 2nd Industrial Complex Project of Yulchon

project overview(2010~2030)

Locationsea swath of Yulchon-myeon, Sora-myeon, and Jungheung-dong, Yeosu-si.
Area3.79 ㎢ (1.15 million pyeong) - Phase 1 (2.1), Phase 2 (1.69)
Project expenses926.9 billion won (state 5,591, private 3,678)
ImplementerYulchon 2nd Industrial Complex Development Co., Ltd.*
* GFEZ 20%, Hyundai E&C 38.4%, Daewoo E&C 32%, Namkwang E&C 9.6%
Attraction businessMachinery (transport equipment), electricity and electronics, non-metal, steel-related industries, etc.

Progress so far

2012. 05.
Registration of establishment of special purpose corporation SPC (Yulchon 2nd Industrial Complex Development)
2017. 05.
Discussion on the status of dredged soil dumping and transfer/acquisition procedures
2018. 08.
Yeosu National Industrial Complex Expansion Suggestion
2018. 10
Due to difficulty in expanding the national industrial complex and port redevelopment project, efforts were made to findan alternative site (Regulation Reform Committee)
2019. 08.
Extension of the grace period for the designation cancellation presumptionAug. 4, '19 → Aug. 4, '24, extended by 5 years
2021. 01.
Final expression of the project implementer's intention to give up the project

Construction of industrial complex (completed)

󰁾 dumping rate: 60.8%

▹ Phase 1 (III+V zones) 2.10㎢, dumping rate of 96.7% (Complete reclamation by 2021)

▹ Stage 2 (District Ⅳ + VI) 1.69 ㎢, dumping rate 5.2% (Complete reclamation by '26)

󰁾 reason for delaying: Significantly reduced dredging volume due to cancellation of container pier development, etc. (Originally scheduled to be completed by 2016)

Future plans

Future plan21. 11. ~ 22. 4. Commissioning of research service on the development plan of Yulchon 2nd Industrial Complex

Future plan22. 6. ~ 23. 7. Application for change of development plan and approval of implementation plan

Future plan24. 8. ~ 30. 12. Step-by-step project impementation and completion

Promotion Status Up To Now

Concluded MOU with the companies who showed intention of participation.
Research engineering service for participation feasibility review of SPC (GFEZ)
Contribution evaluation for SPC participation (20% contribution of capital)
Submission of project proposal and selection of preferred bidder (Hyundai E&C)
Conclusion of an agreement for handling plan of dredged soil disposal yard (Chunnam-do <-> Yeosu Port Authority)
Concluded a shareholders' agreement of SPC
- GFEZ (20%), Hyundai E&C (38.4%), Daewoo E&C (32%), Namkwang Const., Co., Ltd. (9.6%)
Incorporation registration of SPC (Yulchon 2nd Industrial Complex Development)
Application for approval of development plan change (former MOTIE)
Held advisory meeting of economic free zone planning board of former MOTIE
Evaluation, approval and notification of above meeting result of application for development plan change (draft) (MOTIE)

Future Promotion Plan

Preparation of development plan change (draft) reflecting the result of residing demand survey
Completed consultation for general effects evaluation including environmental effect evaluation
Approval, notification of development plan change and its execution plan
Land transfer and start of the work

Yulchon 3st Industrial Complex

Outlook type Landscape Element Plan

View corridor
- Establishment of view corridor connecting to the mountain-industrial complex-sea
- Management of major street side and land piece boundary by including it in view corridor
View point
- Arrangement of ground level factory type buildings in most of the industrial complexes
- Skyline creation through height regulation of industrial facilities such as smoke stack and energy tank rather than buildings
- Skyline establishment that may save view corridor by regulating height of buildings and facilities around main view corridor

Nature type Landscape Element Plan

Green Network
- Landscape of park under land use is managed by dividing it into coastal park and urban park based on its location
- Creation of greenway around view corridor and its corridor crossing the whole complex through greenway
- More than 2 rows of planting in buffer green belt is required and its view with buildings is required to be shielded by creating street forest.
Blue Network
- Prevention of building corrosion by creating windbreak forest along the coast
- Public accessibility is required to be reinforced by creating coastal waterfront space and coastal outlook is required to be secured by widening pedestrian passage width along the road.

Urban type Landscape Element Plan

Building Form and Layout
- Creation of building appearance having a sense of variety through formative treatment of ground level and roof top so that repeated landscape will not be formed considering large-scaled industrial complex
- In case of low-rise factory, as roof outlook is important, building roof material being consistent with color plan is required to be selected.
- In case of support facility, outdoor space plan by using trees, fountain and symbolic sculptures is required to be planned.
Street Landscape
- Main road connecting historical sites of Shindae Human Green Complex and Songdo of Yulchon 3rd Complex is required to be created as a symbolic street.
- Streets are required to be created as waterfront street by providing lineal space with deck for ensuring outlook of islands like Songdo and by providing resting facilities here and there, gathering of people is required to be induced.

Other Landscape Element Plan

Nighttime Landscape
- Lighting of high color temperature is required to be installed at a high place considering outlook from the sea.
- Complex entrance is required to be noticeable by giving variety and starting point of pedestrian street is made to look lively by giving monument element of light.

Yulchon Port Site Development Project Status

project Overview(2010~2030)

LocationSwath of Yulchon-myeon, Sora-myeon and Jungheung-dong of Yeosu-si (sea part).
Scale5.13 million ㎡ (1.55 million pyeong) → 1st stage 3.26 million ㎡ (990,000 pyeong)
ImplementerMinistry of Oceans and Fisheries (Yeosu Gwangyang Port Authority)
Main functionIndustry▪logistics function (commercial/business, education/research function, park, green space, etc. water-friendly space)

Progress so far

2003. 10.
Designation and notification of Gwangyang Bay Area Free Economic Zoneformer Ministry of Finance and Economy
2009. 06.
Development plan change noticeformer Ministry of Knowledge Economy
2011. 07.
Designated as a district for port facility installationnew dredged soil dump

- Notice of the 3rd Basic Port PlanMinistry of Land, Transport and Maritime Affairs Notice No. 2011-402
2013. 12.
Gwangyang Port Basic Plan Change NotificationDesignation of New Dredged Soil Arena

- Ministry of Oceans and Fisheries Notice No. 2013-269
2016. 10.
Designated as a base district for maritime industry and multi-industry logistics2nd Basic Port Redevelopment Plan
2018. 07.
Announcement of Port Redevelopment Contest Project(Ministry of Oceans and Fisheries)

- Selected as a negotiator for the port redevelopment competition project2018.12.21.
2018. 8. 22.
2018. 9. 3.
2018. 9. 17.
Consultation with the central government for site expansion of the Yeosu National Industrial Complex hosted by the Ministry of Strategy and Finance (3 times)

- Difficulty in expanding the national industrial complex, promoting it as a port redevelopment project and reviewing “addition of industry”
2018. 12.
Selected as a negotiator for the port redevelopment competition project
2019. 08.
Concession agreement signedMinistry of Oceans and Fisheries/Yeosu Gwangyang Port Authority
2019. 09.
Business plan establishment service10 months
2020. 04.
Extension of the grace period for the cancellation of the designation of the free economic development area

- Extension of 2 years under the condition of voluntary cancellation of designation of 「Yulchon 3rd Industrial Complex Site」
2020. 12.
Port redevelopment project plan establishment announcementMinistry of Oceans and Fisheries
2022. 03.
Approval of implementation plan for port redevelopmentplanned

Future plans

Future plan’22. 06. Phase 1 construction start