Jinju City Confirms This Year's 'Investment Attraction Plan' ... Target Amount 110 Billion Won

10% Increase Compared to Last Year... Attracting Anchor Companies

Jinju City is reviewing the 2021 basic investment attraction plan.

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Jinju City, Gyeongnam Province, announced on the 19th that it held an Investment Attraction Committee (Chairman: Mayor Cho Gyu-il) meeting at the city hall situation room and reviewed and finalized the basic investment attraction plan for 2021.

This year's investment attraction target amount was set at 110 billion KRW, an increase of 10 billion KRW compared to last year.

The basic plan includes ▲ diverse attraction activities and anchor company investment attraction ▲ strengthening aerospace and root technology and fostering the ceramic (transportation) industry ▲ expanding bio and silk industries and promoting growth in stagnant industries such as machinery (automobiles) ▲ discovering and fostering new growth engine industries to build a future high value-added platform for specialized industries.

In connection with the region's main industry (aerospace), the city plans to focus on attracting PAV (Personal Air Vehicle) demonstration facilities and large-scale manufacturing plants utilizing the UAM (Urban Air Mobility) system, which is expected to experience explosive growth to a scale of 731 trillion KRW by 2040.

Additionally, in line with the Ministry of Land, Infrastructure and Transport's 2025 K-UAM urban demonstration goal, Jinju City plans to strengthen mutual cooperation with the Korea Testing Laboratory, Korea Ceramic Technology Institute, and related companies.

The city will also concretize a customized business matching concept related to the UAM industry and continue to expand regulatory sandbox and investment company incentive support systems.

Mayor Cho Gyu-il of Jinju said, "Although investment has been restrained due to COVID-19, we will work closely with the staff to surely achieve the 2021 investment attraction target."

Meanwhile, to prepare for the next 100 years, Jinju City established a corporate attraction team in 2019, recruited private experts, and is conducting one-on-one exchange activities with over 60 companies. Through this, in the past two years, it has achieved results of attracting 24 companies with 300 billion KRW and creating 840 new jobs.

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