Gyeongju to develop RE100 e-mobility industrial complex in Angang

Gyeongju, North Gyeongsang Province, announced Saturday it will develop the RE100 Angang e-Mobility Exclusive Industrial Complex.

An RE100 industrial complex is an eco-friendly facility that meets all of its electricity needs through renewable energy sources such as solar and wind power.

The project will invest 180.5 billion won ($117 million) in a roughly 790,000-square-meter (240,000 pyeong, where 1 pyeong equals 3.3 square meters) site in the Gapsan and Geungye-ri areas of Angang-eup through public development, with completion targeted by 2030.

Construction is set to begin in early 2028, with the complex developed in two phases.

The complex will attract high-quality small and midsize companies in future vehicle materials, parts and equipment, as well as the e-mobility sector, with the aim of creating quality jobs and building a foundation for young people to settle in the region.

The project will also be linked to a privately led 150-megawatt wind power generation project to ensure a stable electricity supply for tenant companies, providing power at 10 to 20 percent below standard industrial electricity rates for 20 years.

"Angang was once the hub of Gyeongju's northern region, but it has struggled with population decline and weakening growth momentum after failing to adequately adapt to structural changes in industry," Gyeongju Mayor Ju Nak-young said. "We will successfully develop the RE100 Angang e-Mobility Industrial Complex to lay the groundwork for balanced development in the northern region and a renewed economic leap for Angang."