Transformation of Aging Industrial Complex... Jinju Sangpyeong Complex Youth Startup Space Breaks Ground

Providing Affordable Rental Spaces

Laying the Foundation for Cooperative Growth Between the Industrial Complex and the Original City Center

Jinju City, South Gyeongsang Province, announced on the 15th that it held a groundbreaking ceremony for the "Sangpyeong Industrial Complex Closed and Idle Factory Youth Startup Space Remodeling Project" at 33-16 Sangdae-dong, within the Sangpyeong General Industrial Complex.

Over 100 people attended the ceremony, including Jinju Mayor Cho Gyu-il, Chair of the Jinju City Council Park Mikyung, provincial and city council members, Jinju Chamber of Commerce and Industry President Heo Seongdu, representatives from the Sangpyeong Industrial Complex Council, and local citizens, who gathered to celebrate the start of the project.

Jinju City held a groundbreaking ceremony for the 'Sangpyeong Industrial Complex Dormant Factory Youth Startup Space Remodeling Project' at the Sangpyeong General Industrial Complex, where attendees participated in a commemorative performance.

This project was launched after being selected in the 2022 contest for industrial complex environment improvement initiatives, and is being implemented through a partnership agreement between Jinju City, South Gyeongsang Province, and Korea Industrial Complex Corporation. The project will create one cultural facility building and three factory buildings on a total site area of 6,626 square meters, with a total floor area of 3,312 square meters, to provide affordable rental spaces for startups and small and medium-sized enterprises.

The "Closed and Idle Factory Youth Startup Space Remodeling Project" is part of the broader effort to advance the structure of Sangpyeong Industrial Complex. The project aims to relax regulations on the aging industrial park, introduce multifunctional spaces, and improve both industrial competitiveness and working conditions. Along with maintaining factory functions, cultural and community facilities will be established, creating a space where industry and daily life coexist.

Over the past ten years, Jinju City has expanded infrastructure and improved the environment at Sangpyeong Industrial Complex through urban regeneration initiatives. These projects have included widening roads between Sangpyeong Industrial Complex and Kim Simin Bridge, creating four new parking lots within the complex, establishing a low-carbon green industrial park, and completing the Sangpyeong Complex Innovation Support Center.

Additionally, last year, the city eased restrictions on the industrial complex to expand permissible business categories, now including automotive repair and accounting and legal services. Through the creation of the youth startup space, Jinju City aims to further diversify the functions of the industrial complex and revitalize the local economy.

Mayor Cho Gyu-il stated, "By working in cooperation with the central government and South Gyeongsang Province, we will continue to expand business categories and relax regulations at Sangpyeong Industrial Complex, actively respond to the structural advancement projects, and strive to breathe new vitality into both the complex and the original city center."

Meanwhile, Jinju City is pursuing the project with the goal of completion by December 2027, with strict plans for process and safety management.

The creation of the youth startup space, which will serve as a new utilization model for closed and idle factories, is expected to become a turning point for strengthening the competitiveness of the Sangpyeong Industrial Complex and revitalizing the original city center.

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