Gyeongju Specialized Industry Analysis: Nuclear Decommissioning, Auto Parts, Tourism - Optimal Location Strategy

While Gyeongju has a strong image as a thousand-year-old ancient capital, from an industrial perspective, it's a very unique city. Three completely different industries - nuclear power, auto parts, and tourism - support the local economy. All three industries face structural changes over the next 10 years, and these changes represent opportunities for companies.

First is the nuclear decommissioning industry. Gyeongju has Wolseong nuclear units 1-4. Unit 1 was permanently shutdown in 2019, Unit 2 reaches operational limits in September 2025, and Unit 3 in 2027. Nuclear decommissioning is not simply 'dismantling' but a massive industry including decommissioning technology, radioactive waste treatment, environmental restoration, and safety management. The global nuclear decommissioning market size is projected to grow from $6.792 billion in 2024 to $10.01 billion in 2035, with CAGR of 3.59%.

Gyeongju is positioning itself as the center of domestic nuclear decommissioning technology. Related companies are clustering around KHNP Wolseong headquarters and Korea Atomic Energy Research Institute Gyeongju branch. The optimal location for nuclear decommissioning-related equipment and technology companies is the Gampo and Yangnam areas close to Wolseong nuclear plant. Additional nuclear safety law regulations may apply to permits in this area, requiring advance verification.

Second is the auto parts industry. Gyeongju serves as a hinterland city for Hyundai Motor's Ulsan plant, with concentrated auto parts companies. Recently, in line with the electric vehicle (EV) transition megatrend, Gyeongju City is pursuing e-mobility projects. This project, with over KRW 60 billion investment by 2030, aims to attract companies related to EV components, batteries, and charging infrastructure. In Myeonggye 3 Industrial Complex, Taewoong Industry (KRW 7.7 billion, 15 employees) and Susystem (KRW 4.8 billion, 27 employees) have already confirmed investments.

Third is the tourism industry. Gyeongju is a representative domestic tourist city visited by tens of millions annually. Post-APEC summit, tourism-industry convergence strategies are becoming full-scale. Tourism farms are complex development models combining agriculture and tourism, requiring business plan approval under the Tourism Promotion Act and agricultural land conversion permits. Isang Group has successful experience in major tourism farm projects in the Gyeongju area, including Tohamsan Tourism Farm and Yangjin Tourism Farm.

Summarizing optimal locations by industry: nuclear decommissioning-related companies in Gampo and Yangnam areas, auto parts companies in Gangdong and Myeonggye Industrial Complexes, and tourism businesses in Oedong and Tohamsan areas. When selecting locations, optimal decisions require comprehensive consideration of permit characteristics, infrastructure status, and future development plans for each industry.