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Business in Jeollabuk-do

Main industry

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The future of Korea, Jeollabuk-do industry
The driving force of Korea for the next 100 years

Korean and international enterprises are now paying closer attention to the endless possibility and growth potential of Jeollabuk-do. Major domestic companies, including Hyundai Heavy Industry, Doosan Infracore, OCI, Hyosung, and Iljin, and companies from China and Japan have settled for the future value of Jeollabuk-do. Global companies, including Samsung, which are leading the world, continue with promising investments. Besides the automobile and shipbuilding industries, other growth engine industries of Jeollabuk-do, including the new energy regeneration industry, the carbon industry, and the food industry will take charge of not only Jeollabuk-do, but also the future 100 years of Korea.

The major growth engine industries that lead Jeollabuk-do
Auto-ship building industries

uto-ship building industries

Jeollabuk-do is the center of the domestic commercial vehicle production, including busses and trucks. 90% of domestic commercial vehicles are produced in Jeollabuk-do and the proportion of exported vehicles is also high. Also, as a result of fast investment in the shipbuilding marine industry, Jeollabuk-do has been further promoted. The world’s top shipbuilding companies, Hyundai Heavy Industry and Gunsan Shipyard have, provided the base for the ‘global Mecca of the future environmentally-friendly shipbuilding marine industry’ by concentrating on related companies and R&D centers.

Hub of commercial vehicle’s manufacturing

Jeollabuk-do has emerged as a hub for the manufacturing of commercial vehicles (including busses, trucks, etc) as businesses from car components to special vehicles are integrated into the province. Moreover, as a development project for “Future Green Commercial Vehicle for Export” has been qualified for its Preliminary Feasibility Test, it paved the way for Jeollabuk-do to strengthen its position as the center for commercial vehicles in Korea.

Mecca of new generation, eco-friendly shipbuilding industry

In 2008, Hyundai Heavy Industry, the world’s leader in the shipbuilding industry, opened its shipyard in Gunsan, and started its manufacturing. Along with Hyundai, about 60 companies, handling ship-related tools and materials, opened their businesses in Jeollabuk-do, thus facilitating the shipbuilding industry’s integration. Then, the establishment of a branch building of in the ‘Korea Marine Equipment Research Institute’ (in 2011), and ‘Green-ship equipment Testing &Certification’ (in 2012) were followed. With these tangible progresses, Jeollabuk-do takes a step forward in order to realize Saemangeum Shipbuilding Marine Cluster, and to consolidate the foundation of global Mecca for the new generation’s eco-friendly shipbuilding marine industry.

New growth engine industries that will provide answers for the future of Korea New regenerating energy-Carbon-Food industries

Jeollabuk-do chose the new energy regeneration industry, which has been rapidly expanding around the world since 2004, as a strategic industry. It is planning to specialize and promote R&D institutions related to new energy regeneration and specialize in and nurture high-value solar lights, a wind power cluster, and hydrogen-fueled cell component material industries. Also, by constructing Korea’s only national food cluster and carbon valley, Jeollabuk-do is planning to be reborn as the leader of the Northeast Asian economy.

New renewable energy industry, nation’s new growth engine

Jeollabuk-do’s new renewable energy businesses mainly are represented by Buan New Renewable Energy Complex, Global Solar belt, linking 3 cities (Gunsan-Iksan-Wanju), Saemanguem Wind Power Industry Cluster, and lastly a development project of a new renewable energy site in Saemangeum.

Outpost of global carbon industry

Jeollabuk-do has been consolidating the foundation for the R&D of the carbon-related industry by having the nation’s first carbon-fiber manufacturing facility, Jeonju Institute of Machine and Carbon Composites(JMC), KIST branch building. Especially, as Hyosung’s (which succeeded in the nation’s first development of carbon fiber, vaunting its high intensity, equivalent to T-700 level) Jeonju plant is expected to be completed soon and start its manufacturing, the province will strengthen its reputation as a leader in the carbon industry. Furthermore, Jeollabuk-do will play a main role, as an outpost for Korea to become a global carbon power.

Hub of Northeast Asia’s Food industry

The first in Northeast Asia’s National Food Cluster, embracing Asia-the Pacific, is being established in Jeollabuk-do. The National Food Cluster, encompassing R&D, production, distribution and export, has a size of 2,380㎢ and 145food-related companies, with 10 research institutes to be included in this cluster soon. With the above progress, the National Food Cluster will become a hub of the Northeast Asia’s food industry, and will play a main role as a bridgehead for Korea to go into the world’s food market.

Website and contact point of Saemangeum

  • Investment Promotion Department : ☎ +82-63-280-3267