The Saemangeum Development and Investment Agency (SDIA) outlines the ambitions and initiatives propelling the Saemangeum National Industrial Complex.
Dubbed the “Saemangeum Project,” SDIA Administrator Kim Kyung-ahn describes the facility’s primary mission as twofold: to establish a global food hub and a world-class tourism and convention center. Positioned strategically in the thriving Asian market, Saemangeum is poised to attract international companies and global capital.
Reflecting on the project’s vast reclamation efforts, Kim said: “Since the completion of the Saemangeum Seawall in 2010, the reclaimed area has experienced significant growth. The Saemangeum Project stands out for its diverse initiatives on this new land, facing minimal challenges.” Spanning a total of 409 square kilometers, this area measures two-thirds of Seoul in size. Given the vast space, secondary battery companies are pouring billions of dollars into Saemangeum.”
From an investment perspective, Saemangeum offers a wealth of opportunities. “For manufacturing entities, the Saemangeum Project presents four primary attractions: expansive land with state-of-the-art infrastructure such as ports and railways; competitive pricing; attractive tax incentives; and streamlined processes,” Kim pointed out.
On the sustainability front, Kim emphasized the agency’s commitment. “SDIA is dedicated to positioning Saemangeum at the forefront of carbon neutrality. It has earned the designation as the first ‘National Demonstrative Smart Green Industrial Complex’ in Korea.” The initiative aims to minimize energy use and to increase renewable energy supply, while focusing on digitalization, energy autonomy and eco-friendliness across all sectors.
“Our aim is to make Saemangeum a hub of advanced industries by offering incentives and advocating for regulatory reforms,” Kim said. With the backing of the government, these strategies include corporate tax incentives to further fuel investments.
Looking ahead, Kim is optimistic about the future: “In the coming five years, the Saemangeum National Industrial Complex will stand out as a nexus for high-tech industries. Our vision is for Saemangeum to be recognized as the predominant economic center in Northeast Asia.”
