Gimhae City Attracts 8 Mid-sized Companies... Expected Record High of 3,030 New Jobs

Heo Seong-gon, Mayor of Gimhae (center in the photo), is taking a commemorative photo after holding a signing ceremony to attract eight companies at the Gimhae City Small Conference Room on the 22nd.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Gimhae City in Gyeongnam has achieved its best-ever performance by attracting eight companies to the region, signaling a positive turn for revitalizing the local economy, which has been stagnant due to the novel coronavirus disease (COVID-19).

On the 22nd, Gimhae City announced that it signed investment agreements with representatives of eight companies, including Kim Sang-chae, Chairman of Kyung Hee Medical Center Education Cooperation Central Hospital, and Kim Jong-hwan, CEO of Samyoung Industry, at a small conference room in the city hall.

Under this agreement, the eight companies will invest a total of 659.2 billion KRW in a 274,300㎡ site including the Jinyeong Hagye General Industrial Complex, relocating or establishing factories by 2023 at the latest, and creating approximately 3,030 new jobs, which is expected to greatly contribute to revitalizing the local economy and generating employment.

Kyung Hee Medical Center Education Cooperation Central Hospital, the largest general medical institution in the Gimhae area, has promised to build a large hospital with over 1,000 beds in the Juchon-myeon Easy General Industrial Complex and create 2,300 new jobs. This will not only significantly improve the local medical standards but also make the establishment of a university hospital-level general hospital, a long-standing wish of the region, more tangible. In the future, if linked with the development of the Gimhae Bio-Life Small Research and Development Special Zone, it is expected to create great synergy in helping Gimhae City leap forward as one of the top four cities nationwide in the bio-life industry.

Tile manufacturer Samyoung Industry, ship engine parts manufacturer Samyoung Heavy Industries (CEO Lee Jong-hwan), automation equipment manufacturer Ilgwang Machinery (CEO Lee Joo-chan), and automobile parts manufacturer Daewoon Gilsan Industry (CEO Lim Ji-seop) are subsidiaries and partners of the leading domestic Samyoung Chemical Group. They will invest a total of 135 billion KRW to additionally expand and relocate factories in the Jinyeong Hagye General Industrial Complex. This is expected not only to have an industrial agglomeration effect but also to transfer the long-standing experience and know-how of the Samyoung Chemical Group to related companies in the region.

Additionally, Kendall Square Logistics Properties (CEO Nam Sun-woo), a company specializing in logistics center development, will secure a new logistics warehouse in Sangdong-myeon, serving as an advanced logistics hub for the Busan-Gyeongnam area. The other two companies that promised new or expanded facilities will also invest 34.2 billion KRW to establish production plants in the Seogimhae General Industrial Complex and other locations.

The city has set a goal of creating 100,000 jobs during the 7th term of the elected administration and, having created 42,975 jobs by March, plans to discover an additional 60,000 jobs by 2022 to lead efforts in resolving youth unemployment and more.

Mayor Heo Seong-gon of Gimhae said, "In a situation where the local economy is stagnant due to the prolonged COVID-19 pandemic, this large-scale investment attraction will be a great hope and comfort to citizens by revitalizing the local economy and providing good jobs through solid mid-sized companies." He added, "We hope this agreement will be an opportunity to bring new vitality not only to Gimhae City but also to the investing companies."

This content was produced with the assistance of AI translation services.