Iksan City Expands Industrial Land to Attract Semiconductor and Secondary Battery Companies

Additional 1.92 Million Square Meters to Be Secured by 2030

Easing Tenant Restrictions and Streamlining Permit Procedures

Iksan City in North Jeolla Province is taking the lead in attracting future-oriented companies in industries such as semiconductors, secondary batteries, and food biotechnology by expanding industrial complexes and improving regulations.

According to Iksan City on July 23, the city has announced plans to build an advanced industrial ecosystem by attracting key companies and related businesses in future industries by 2030. To achieve this, the city will pursue the following measures: ▲ Expansion of industrial land, ▲ Promotion of the designation of a semiconductor materials, parts, and equipment (MPE) specialized complex, ▲ Operation of a joint public-private investment attraction task force, and ▲ Easing of restrictions on tenant companies.

A view of Iksan City Hall.

First, by 2028, the city plans to supply an additional 270,000 square meters for the expansion area of the 3rd Industrial Complex, and to newly build the 5th Industrial Complex covering 1.65 million square meters by 2030. The city is also reviewing how to utilize idle land in the 1st and 2nd industrial complexes as sites for investment companies.

The Hamyeol Specialized Agro-Industrial Complex is expected to be converted to a general agro-industrial complex as early as August, expanding eligible tenant industries to include fields such as electrical and electronics businesses.

The city also plans to leverage the designation of 419,819 square meters—including the 3rd Industrial Complex expansion site and the first phase land of the National Food Cluster—as an Opportunity Development Zone to attract companies. Companies that relocate to this zone or newly establish production facilities will be eligible for various incentives such as corporate tax, acquisition tax, and property tax reductions, as well as increased local investment promotion subsidies.

Iksan City is also accelerating preparations to be designated as a specialized cluster for semiconductor materials, parts, and equipment.

On July 10, the city held a meeting with local MPE company officials, including Dongwoo Fine-Chem, Miwon Commercial, and Lotte Energy Materials, to discuss plans for specialized cluster designation and business investment attraction. After coordinating with relevant departments to resolve difficulties faced by companies, the city is also reviewing the conditions for supplying the necessary electricity and water for additional investments.

Iksan City plans to establish and cluster a semiconductor MPE specialized industrial complex covering 26.25 million square meters over five years from 2027 to 2031, in cooperation with neighboring areas such as Gunsan and Wanju. A joint public-private investment attraction task force involving government, businesses, experts, and citizens will also be operated. This team will be responsible for securing industrial land, ensuring power and water supply, supporting investment companies, and identifying key companies to attract. In particular, the team will build a support system to boost effectiveness by assisting companies throughout the entire process, from preliminary investment review and site selection to signing investment agreements, building facilities, hiring personnel, and post-investment management.

Efforts to create a business-friendly environment will continue in parallel, including relaxing restrictions on tenant companies and shortening licensing and permitting procedures to make it easier for companies to invest in practice.

Iksan City also plans to adjust the list of restricted industries for the 1st and 2nd General Industrial Complexes to accommodate more companies in high-tech sectors such as semiconductors.

In addition, the city will operate a "one-stop support team" to assist with every step from investment decision to establishment and operation of new plants. The aim is to reduce the administrative processing period for procedures from investment review to building permits from the current 90 days to 45 days.

Kim Woojin, Head of the Youth Economy Bureau of Iksan City, said, "We will create an investment-friendly environment by expanding industrial land, improving regulations, and providing tailored support for companies," adding, "Attracting future industries will increase high-quality jobs and lay a new foundation for regional economic growth."

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