5 Win-Win Jobs... 860 Billion KRW Investment, 1,140 Jobs Created

Gwangju, Miryang, Hoengseong, Gunsan, and Busan-Type Jobs
Total Investment of 1.85 Trillion KRW Project, Expected to Create 3,900 Jobs

[Sejong=Asia Economy Reporter Kwon Haeyoung] The win-win regional job creation project, which creates quality jobs based on labor-management cooperation, has induced investments totaling 860 billion KRW since its groundbreaking in January 2019. The Ministry of Trade, Industry and Energy (MOTIE) forecasted that when all five nationwide win-win regional job projects are completed, total investments will reach 1.85 trillion KRW.

According to MOTIE on the 15th, in addition to Gwangju, win-win regional job projects are underway in four other locations: Miryang in Gyeongnam, Hoengseong in Gangwon, Gunsan in Jeonbuk, and Busan. As of September, 860 billion KRW has been invested, and approximately 1,140 people have been employed. When all these projects are completed, investments are expected to total about 1.85 trillion KRW, and the scale of job creation is projected to increase to around 3,900 jobs.

Gunsan in Jeonbuk, which experienced hollowing out after the departure of Korea GM, is transforming into an electric vehicle cluster with related companies moving in. Myeongshin, which produces electric vans, shipped its first vehicle in June, and Edison Motors, an electric bus company, completed its factory last month. Electric vehicle and related parts companies such as Daechang Motors, MPS Korea, and Costec also plan to start factory construction within this year.

The Busan-type jobs focus on securing technology related to electric vehicle drive units. Through joint R&D with partner companies, they promote technology sharing between primary and subcontractors and localization. Corens EM, an electrification system company, completed its factory in July and plans to start mass production of products from January next year.

In Hoengseong, Gangwon, seven complete vehicle and parts companies formed a cooperative to share risks and profits, planning to produce 20,000 ultra-small electric cargo vehicles annually. They have already been mass-producing the ultra-small electric cargo vehicle "Portro," which has been on sale since October last year. So far, 43.3 billion KRW has been invested, creating 157 jobs. In the Miryang-type jobs in Gyeongnam, 26 local root companies are establishing an eco-friendly smart root industrial complex based on coexistence between residents and companies.

An official from the Ministry of Trade, Industry and Energy stated, "Relevant ministries will continue to closely consult to support all processes including discovering, selecting, and implementing new win-win models so that win-win regional jobs can spread nationwide."

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