KEPCO Jumpstarts Energy Valley Project to Create Convergence Ecosystem
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KEPCO Jumpstarts Energy Valley Project to Create Convergence Ecosystem
Has already achieved initial goal of attracting 300 tenant companies to Valley by 2018: revising new goal of attracting 350 tenant companies

24(Thu), May, 2018



Dignitaries, including KEPCO President Kim Jong-kap, and Chairman Chang Byung-wan of the National Assembly Trade, Industry, Energy, SMEs and Startups Committee, participate in a ceremony in which Korea Electric Power Corp. (KEPCO) signed MOUs on investment into the ¡°Energy Valley¡± in Naju, Jeollanam-do, with 30 companies at KEPCO headquarters in Naju on April 26. (Photo: KEPCO)





Korea Electric Power Corp. (KEPCO) signed MOUs on investment in the ¡°Energy Valley¡± in Naju, Jeollanam-do, with 30 companies, including LG Electronics and Enornoc Korea, in cooperation with the Gwangju Metropolitan City government, Jeollanam-do provincial government and KEPCO KDN.
Among those present on the signing ceremony at the KEPCO headquarters held on April 26 were KEPCO President Kim Jong-kap, Chairman Chang Byung-wan of the National Assembly Trade, Industry, Energy, SMEs and Startups Committee, Gwangju Mayor Yoon Jang-hyun and Acting Jeollanam-do Gov. Lee Jae-young.
The new signatory companies bring to 310 the number of companies who have signed MOUs to invest in the Energy Valley. Accumulated investments stand at 1.267 trillion won so far, and they are expected to have an impact of creating 8,142 jobs.
KEPCO has unveiled a vision of attracting 350 tenant companies by 2020. KEPCO, one of the nation¡¯s largest public entities, has already surpassed an initial goal of attracting 300 companies to the valley by 2018 on the back of regulatory reform by the local governments and KEPCO¡¯s active support.
KEPCO, having revised upward the goal of attracting tenant companies, is implementing diverse projects, including ones to attract more companies, build infrastructure, and develop manpower in cooperation with the local government and related organizations.
Among the latest signatories are 20 companies specializing in such new energy industries as power ICT and ESS. Out of the total, 12 have already begun to invest by signing land contracts, contributing greatly to building a new energy industry cluster and enhancing execution of investments.
On the same day, MOUs on the establishment of an energy-oriented convergence industry eco-system were also signed among Korea Rural Community Corp., Korea Internet & Security Agency, National Radio Research Agency, and Korea Communications Agency ¡ª the four ICT and agricultural life science institutions relocated to Naju, the innovative city of Gwangju and Jeollanam-do.
The agreements call for attracting companies related to the Energy Valley and exploring convergence tasks in such areas as information security, consulting, and water photovoltaic power.
KEPCO President Kim said, ¡°The Energy Valley is an exemplary practice of reinvigorating the regional economy through relocation of public entities, and it will be made into an innovative hub creating Korea¡¯s new growth engines contributing to reinvigorating the regional economy and creating jobs by attracting companies creating jobs and added values and accelerating establishment of a new energy industry eco-system based on a support system tailored to meet corporate views.¡±
Chairman Jang of the National Assembly said a legal foundation on the establishment of the Energy Valley has been secured with the enactment of a special act on new energy industry convergence, which went into effect last December, and enforcement degrees, including the ones concerning supporting investment companies, are to be promulgated in June, so that the Energy Valley project will be accelerated more than ever.
Gwangju Mayor Yoon said the municipal government will not spare any efforts to establish an energy-oriented convergence industry eco-system by ramping up solidarity and collaboration with local governments and relocated public entities in order to create future bread winners and good jobs.
Acting Jeollanam-do Gov. Lee said he extended congratulations to KEPCO President Kim¡¯s taking office and expressed hope the energy industry in Gwangju and Jeollanam-do will make great strides. Lee said he was sure that a leap into a global ¡°energy valley¡± will be accelerated with the enactment of the special law, calling for fresh government support.


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