Editor’s Note
Iksan, South Korea’s “Gem City,” has achieved a legislative milestone with the passage of the Act on the Foundation and Promotion of the Jewelry Industry, securing national support to elevate its jewelry sector onto the global stage.
Iksan, South Korea’s representative ‘Gem City’, has secured an institutional foundation to leap onto the global stage with full national support for its jewelry industry.
The city announced that the ‘Act on the Foundation and Promotion of the Jewelry Industry’, which includes systematic development and support for the domestic jewelry industry, passed the National Assembly’s Trade, Industry, Energy, SMEs and Startups Committee last month, giving a green light to the city’s ongoing gem industry advancement projects.
Despite being a high-value, job-creating industry, the jewelry sector has long lacked an independent national promotion law, limiting systematic budget support and mid- to long-term development. Now, legislative efforts by lawmakers from both parties, combined with government policy research, have resulted in the passage of an integrated committee alternative at the standing committee.
The bill stipulates the responsibility of the state and local governments to foster the jewelry industry, and includes extensive national support measures covering the entire industry, such as:
– Establishing a basic plan for jewelry industry promotion
– Designating specialized personnel training institutions
– Supporting startups and manufacturing
– Supporting technology development and quality verification
– Supporting overseas market entry
Iksan is expected to be the biggest beneficiary of this legislation. The city has already preemptively built the nation’s strongest manufacturing and research infrastructure, including the country’s only Gem Museum, the Fashion Jewelry Joint R&D Center, the Jewelry Cluster Industrial Center, and the Jewelry Rental Factory.
Once the bill passes the final plenary session, the city plans to identify large-scale new national projects linked to the national basic plan. It has also begun developing preemptive strategies to secure government projects, such as attracting a ‘National Designated Jewelry Industry Promotion Complex’, securing professional training programs, and quality certification projects using internationally accredited testing institutions.
The bill still faces review by the National Assembly’s Legislation and Judiciary Committee and a plenary vote. If passed, it will become the first independent promotion law in the history of the domestic jewelry industry.