Development Overview

• Location : Okgye-myeon, Gangneung
• Area : 0.38㎢
• Project Cost : 574 billion won
• Main Functions
  • Ultra-lightweight parts and materials industry cluster such as silicon and titanium 
  • Large-scale parts convergence production facility and research facility: parts and materials, light-weight automobile parts, medical materials, light-weight medical devices
  • Foreigner-exclusive complex: foreign companies related with zirconium smelting and light-weight automobile parts

Investment Conditions

• Abundance in ultra-lightweight parts such as silicon and titanium 
  • Rich in dolomite (ingredients for magnesium), lithium (secondary cell ingredients), silica stone (raw materials for smelting metallic silicon) 
  • Production of 8 rare metals among the 11 main strategic rare metals such as magnesium (silicon, lithium, titanium, rare earth, zirconium, etc.)
  • Optimal place for fostering nonferrous metal material industries in which resource cooperation with China, North Korea and Russia is possible 
• Foster Korea’s largest nonferrous metal cluster: 2.2㎢ 
  • EFEZ (Okgye District), POCCO dynamic rolling product and lithium production complex
    → Attract relevant companies and foster new materials complex 
  • Procured nation’s largest anchor company related to nonferrous metals
    → Foster nonferrous metal complex, research complex, and production support facility complex  
        POSCO – lithium and other new materials
        Seowon – Establish titanium powder and additive manufacturing related industry
  • Procure nonferrous metal production and import/export port ⇒ Okyge Port
    → Can transform Okhye Port in the district into an exclusive port for nonferrous materials industry 
• Drawing up plans to construct the ‘East Sear Region Energy/Resource Belt’ linked to North Korean resources of the new government 
  ※ Foster as Northeastern base for South-North Korean economic cooperation and energy/resource belt tied 
      with Russia

Okgye