Chungnam Sees More Than Double Increase in Employment and Investment Due to Corporate Attraction Effect

[Asia Economy (Naepo) Reporter Jeong Il-woong] Corporate attraction in the Chungnam region has led to increases in employment and investment.

According to Chungnam Province on the 17th, a total of 279 companies completed construction and began operating factories from January to April, an increase of 49 companies (18.7%) compared to the same period last year (230 companies).

By city and county, newly completed and operating companies were distributed as follows: Cheonan 91, Asan 83, Dangjin 24, Geumsan 22, Gongju and Boryeong 14 each, Hongseong 13, and Yesan 9. By industry, assembled metal machinery led with 69 companies, followed by electrical, electronics, and telecommunications with 47, food with 37, automobile parts with 21, and non-metallic with 20.

In particular, the total investment amount by these companies reached 1,929.1 billion KRW, nearly tripling compared to last year (January to April 646.4 billion KRW), and the number of employees was 5,280, approximately double compared to last year (2,605 employees).

An official from the province stated, “Although companies are facing difficulties due to the prolonged COVID-19 pandemic, the province’s incentive policies are acting as a driving force to attract investment,” adding, “The province will continue to focus administrative efforts on attracting leading domestic companies to lay the foundation for revitalizing the regional economy.”

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