It has a logistics hub port located on the main/principal route connecting Asia, North America, and Europe.
It is home to POSCO Gwangyang Steel Mill, one of the world's top companies, making it easy to secure raw materials related to hot rolling, cold rolling, automobile steel plates, thick plates, shipbuilding,steel, and machinery.
Gwangyang Port designated as Free Trade Area (January 2002)
Gwangyang Bay Area designated as Free Economic Zone (October 2003)
East-West Integrated Zone Development Project (KRW 866 billion for 43 projects)
Functional chemical material cluster construction project (completed in 2019, KRW 60.2 billion)