[2020 National Audit] Despite Increase in Companies Entering National Industrial Complexes... Employment and Production 'Plummet'

Source=Korea Industrial Complex Corporation

[Asia Economy Reporter Kim Daeseop] Although the number of companies located in national industrial complexes has steadily increased, employment and production value have decreased.

According to data submitted by the Korea Industrial Complex Corporation to Han Mugyeong, a member of the National Assembly's Industry, Trade, Energy, Small and Medium Enterprises Committee from the People Power Party, the number of companies in national industrial complexes was 48,450 as of May 2017, but increased by 9.8% to 53,321 as of July this year.

However, during the same period, the number of employees decreased by 4.8%, from 1,026,953 to 977,911. Production value also fell by 15.2%, from 44.5121 trillion won to 37.7281 trillion won.

Assembly member Han pointed out that although the government attributes the overall reduction in employment at tenant companies to the impact of the novel coronavirus infection (COVID-19), employment had been continuously declining even before the outbreak of COVID-19.

Han said, "The current government's job performance, which claims to be the 'Job President,' is at a disastrous level," and emphasized, "Instead of just blaming COVID-19, it is the government's role to understand the difficulties faced by tenant companies and come up with solutions."

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