South Gyeongsang Province kicks off 'mega-investment' drive for advanced industries

South Gyeongsang Province has launched a comprehensive support framework to attract large-scale investment in advanced industries from major conglomerates, coinciding with the start of its ninth elected-term administration. The province held the ninth session of its Investment Attraction Advisory Committee at Lotte Hotel Seoul on Friday, sharing its investment strategy for the new term and discussing plans to advance big-business investment in future high-tech industries.

The meeting was the first advisory committee session since Gov. Park Wan-su began his ninth-term tenure. Eleven advisory members attended, including committee chair Hwang Gak-gyu — who took office as chairman of the Korea Tire Industry Association in February — along with current and former CEOs of major conglomerates and experts from the finance and academic sectors.

At the meeting, Park said the province had been operating its "South Gyeongsang Advanced Industry Promotion Task Force" since Monday, led by the administrative vice governor. "We will supply infrastructure on time through a dedicated system for each company and provide one-stop support for the entire process from investment decision to factory operation, creating a vibrant regional economy and quality jobs," he said.

The session reviewed the achievements of the eighth elected term and covered four priority investment sectors for the ninth term — logistics, aerospace, defense industry, and foreign and reshoring companies — as well as a South Coast tourism development strategy. During the eighth term, the province attracted a total of 37.33 trillion won in investment, roughly double the 18.76 trillion won ($12.8 billion) recorded under the seventh term.

The province said it would accelerate major projects in connection with the government's "Yeongnam Region Advanced Industry Development Vision," announced July 3. Key projects discussed include Samsung Heavy Industries' construction of high-value marine infrastructure and smart yards in Geoje (10 trillion won); Hanwha Aerospace's defense AI data center in Changwon (more than 10 trillion won); a thermal management system production line by Hyundai Wia; heating, ventilation and air conditioning and physical AI operations by LG Electronics; small modular reactor development by Doosan Enerbility; and a 5 GW-class data center by SK Telecom.

The advisory committee, organized around three subcommittees covering future growth industries, core industries, and tourism and MICE, agreed to share global conglomerate investment trends and work together to strengthen execution. Committee chair Hwang said the body would "further reinforce its bridging role — sharing corporate investment information and proposing policies — to ensure the investment plans of major companies proceed without a hitch."

Earlier that morning, Park visited the National Assembly to urge swift passage of two special bills — on aerospace and South Coast development — that the province considers key long-standing priorities and a foundation for balanced national development.