Pohang City Hall > Business > Support for the industry

Economic hub of the North Eastern Asia connecting Korea, Russia, China, Japan, and North Korea of the East Sea
Platform for the North Eastern Asia, being in the route of the Asia Highway line 6 and Eurasia crossing train
Main city in the East Sea for the Development of U-shaped land project and the main entrance to Daegu and Gyeongbuk area

Strengths
- Home to 519,547 people with the size of 1,127km, 1.8 times larger than Seoul Abundant maritime tourism resources in beautiful coastline stretching 110km and the famous sunrise place of the East coast Pleasant place to live in with the character of agricultural and fishing villages combined in harmony with added touch of city
Economic power
- Economically productive population(number of employed, unemployed)
- 6 trillion 567.3 billion won (Gyeongbuk 19.5%)
- Steels 1,2,3 complex, 6 other industrial complexes and approx. 260 companies
- Export and import (Export and import amount) ※ Trade surplus
- Size of budget: 100 million won

Have skilled workers and well-developed steel industry
- Have approximately 250 companies including the world renowned company POSCO, Dongkuk Steel Mill, INI Steel, etc.
- Skilled labor in welding and metal, able to provide more industrial workers (approx. 600 a year)
Establishment of R & D infrastructure for fostering 'city of high-tech science'
- POSTEC, Pohang Techno Park, RIST, PAL
High quality human resources and excellent facilities
- 2,000 research workers, including 500 people with masters and PhDs, researching both basic and application science
- Operates 50 research centers including National Center for Nanomaterials & Technology, POSTECH Biotech Center, Pohang Institute of Intelligent Robotics and others
Improved development in cutting edge technology and business competitiveness through the establishment of innovative cluster network of industry, academia, and government
- Production of high value-added products through assistance in state-of-the-art technology development and transfer
- Development in future information industry such as IT and ET, and nurturing of highly-qualified skilled workers

Building industrial complex for the 21st century
- New port industrial complex development (1.8 million pyeong) : Integrated complex for advanced material, parts and ship building industry
- Foster high-tech eco, environment industrial complex (870,000 pyeong) : Future industry complex for nano, bio and environment industry
- Create Pohang 4-local industrial complex : high-tech steels complex
Expansion of transportation and logistics facility
- Opening of highway between Daegu~Pohang (2004)
- Highway between Ulsan~Pohang (2011)
- Laying of new railway between Pohang~Samcheok (2014)
- Have four harbor facilities and Pohang Airport including Pohang New Port and Yeongil Bay New Port
- Sangju ~ Yeongcheon ~ Pohang connecting highway opening (2017)
Establishment and support for investment assistance system
- Thanks to the enactment of Pohang’s business and investment attraction regulation, various assistances are available : subsidies and aid for cost of construction/equipment
- Provision of One-Stop services, such as agent for authorization and approval and customer support, with thorough post management
- Foreign investment promotion area and domestic company investment promotion area designation: lending of industrial ground for a long period, tax break and others

Business