Sacheon City Provides 2 Billion KRW Support to Revitalize Local Key Food Industry and Aerospace Manufacturing Sector

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Sacheon City in Gyeongnam is stepping up to support local aerospace manufacturers.

On the 2nd, the city announced that it has provided a total of 2 billion KRW to aerospace manufacturers in the area to revive and maintain the aerospace manufacturing industry, which is the city's main industry and future growth engine.

The city identified the damage situation such as sales decline through on-site visits to overcome the aerospace industry crisis, and after reviewing support for aerospace manufacturing, finalized support amounts of up to 100 million KRW per company to maintain the aerospace industry base.

In addition, in cooperation with the Ministry of Employment and Labor and Gyeongsangnam-do Province, the city is implementing the 'Regional Specialized Emergency Vocational Training Pilot Project' until the end of this year, supporting employment retention of aerospace companies by subsidizing part of labor costs, education expenses, and employer contributions to the four major social insurances.

Notably, through the Korea Aerospace Industry Promotion Association, the city applied for designation as a special employment support industry for aircraft parts manufacturing in May last year and early this year, achieving designation as a special employment support industry from April until the end of March next year.

Mayor Song Do-geun said, “To overcome the crisis, we will continue to actively cooperate with central government ministries and related organizations to do our best to protect the aerospace industry.”

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