Joint council reviews development projects and investment attraction efforts over the past year
The Gwangyang Bay Area Free Economic Zone Authority announced Thursday that it underwent a three-day administrative audit by the joint council from Tuesday through Thursday, covering the full scope of the authority's operations.
During the audit, joint council members reviewed major tasks carried out over the past year — including development projects, investment attraction progress and organizational management — and proposed a range of improvements.
Joint Council Chair Kim Jeong-hui, a lawmaker from the South Jeolla Province-Gwangju integrated special city assembly representing Suncheon, said the audit was an opportunity to share on-the-ground difficulties and find solutions together. Kim called for proactive measures to fill staff vacancies at the authority, quarterly reporting on key progress, more assertive administrative action to boost investment results, and the joint adoption of a recommendation to ease the 30 percent cash support requirement for foreign investment.
Vice Chair Kim Chang-u, a South Gyeongsang Province assembly member representing Namhae, urged the authority to build a system for attracting businesses through online promotion and social media.
Council member Ju Yeon-chang, a lawmaker representing Yeosu in the integrated special city assembly, encouraged progress on the Gyeongdo district project and recommended that the authority take an active administrative role in helping Mirae Asset advance the project quickly. Ju also suggested the authority work closely with the central government and relevant agencies on compensation costs to minimize the fiscal burden on local governments.
Ju added that practical measures for regional development should be drawn up, including a review of the direction of the Hwanyang district in Yeosu and the Yulchon 2 industrial complex.
Council member Seo Yeong-bae, a lawmaker representing Gwangyang in the integrated special city assembly, raised the need for thorough oversight of safety issues, including industrial waste management and fire prevention at industrial complexes.
Seo added that the authority should also verify whether companies that have set up operations in the Gwangyang Bay area have followed through on their original investment commitments and job creation targets, and whether they are generating actual cargo volume through Gwangyang Port.
The joint council is composed of 11 members: three assembly members from the South Jeolla Province-Gwangju integrated special city assembly, one bureau chief from the integrated special city, one South Gyeongsang Province assembly member, one director-level official from South Gyeongsang Province, one deputy head each from the four Gwangyang Bay area municipalities of Yeosu, Suncheon, Gwangyang and Hadong in South Gyeongsang Province, and one representative from the Ministry of Trade, Industry and Energy.
Gwangyang Bay Area Free Economic Zone Authority Commissioner Gu Chung-gon said the authority would carefully review the issues and improvement suggestions raised by council members, thoroughly check and share progress updates, and work to strengthen the credibility of its administration and the effectiveness of its projects.
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