Shin Minho Urges Expanded Support for Yeosu and Gwangyang Alongside Semiconductor Industry

Highlighting Imbalances in Industrial Policy During Strategic Industries Bureau Report
"5.7 Billion Won in Industrial Crisis Response Area Budget Is Not Enough"
Balanced Growth Possible Only by Supporting Both Semiconductors and Petrochemical/Steel Sectors

Shin Minho, member of the Jeonnam Gwangju Integrated Metropolitan City Council (Democratic Party, Suncheon District 6), has called for not only the promotion of future industries centered around semiconductors but also for stronger support of the petrochemical and steel industries in Yeosu and Gwangyang.

On July 14, during the Strategic Industries Bureau's work report to the Climate, Environment and Energy Committee, Shin focused on thoroughly examining the direction of the integrated metropolitan city's industrial policies and the balance in budget allocations.

Shin said, "The plans for 800 trillion won in semiconductor investment and the blueprints for future industries such as space, quantum, and AI are encouraging." However, he gave a critical remark, noting, "It is concerning that the region's mainstay industries such as petrochemicals and steel, as well as the workers and small businesses on the ground who are enduring crisis at this very moment, may be falling behind in policy priorities."

He also pointed out that out of the total strategic industries budget of 76.8 billion won, only 5.7 billion won is allocated to the chemical and steel sectors.

Shin Minho, Member of the Jeonnam Gwangju Integrated Special City Council.

Shin stated, "While the government and companies have announced plans to invest 800 trillion won in semiconductor fabrication plants, the budget to protect the region’s core industries remains at this minimal level," adding, "Yeosu and Gwangyang have been designated as areas requiring proactive industrial crisis responses—they are in an emergency situation. Petrochemicals and steel have been pillars of the regional economy and employment for decades, so what can really be achieved with only 5.7 billion won?"

He also raised concerns about differences in support systems.

Shin remarked, "For semiconductors, there is a report of establishing a strategic committee and dedicated teams for each major company, creating a 24-hour one-stop support system." However, he pointed out, "For petrochemicals and steel, the only real structure is a public-private joint crisis response council."

He did, however, clearly express strong support for semiconductor industry promotion itself.

Shin commented, "Attracting four fabrication plants worth a total of 800 trillion won is a historic opportunity that has come with the launch of the integrated metropolitan city and is unlikely to come again." He highly evaluated the administration’s swift response, including the establishment of the semiconductor strategic committee and designating clusters, and pledged that the council would also provide legislative and budgetary support as needed.

He further emphasized, "Achieving success in semiconductors and sustaining other core industries is not an either-or situation." He added, "The metropolitan city's industrial policies should not be focused solely on expanding Gwangju, but rather should be designed as a sectoral transformation where all regions can grow together."

Finally, Shin stated, "The attention and focus placed on attracting high-tech industries must be matched by similar efforts for our key industries, which are currently enduring a crisis," emphasizing, "From budgeting and support systems to securing national funds, we need balanced industrial policies that do not leave either high-tech or core industries behind."

This content was produced with the assistance of AI translation services.