Gimhae's Economic Twin Engines 'Corporate Investment and Overseas Exports' Thriving

2021 Corporate Investment Agreement Signed for 996.8 Billion KRW

Cumulative Exports of 2.688 Billion USD as of Late November... 18.2% Increase Compared to Same Period Last Year

Last July, Gimhae City held an export consultation meeting for the Indian online trade delegation.
[Image source=Gimhae City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Gimhae City, Gyeongnam Province, exceeded its 2021 investment attraction target of 900 billion KRW by 110%.

On the 30th, Gimhae City announced that it signed investment agreements worth 996.8 billion KRW with 48 companies throughout the year, creating 3,062 new jobs.

The city established a dedicated investment attraction department, the Investment Attraction Division, this year and carried out multifaceted investment attraction activities.

As a result, starting with attracting the global e-commerce company Coupang in March, investments were secured from six large logistics companies totaling 632.3 billion KRW, four companies in the bio-healthcare specialized sector totaling 58.6 billion KRW, 27 companies in key industries totaling 182.8 billion KRW, and five companies in future new industries totaling 23.2 billion KRW.

Building on this, the city set its 2022 investment attraction target at 1 trillion KRW. To attract companies in strategic industrial sectors, it plans to completely reorganize its investment attraction strategy and focus on attracting mid-sized companies that create quality jobs through strategies reflecting government economic policy directions.

Meanwhile, despite the economic downturn caused by COVID-19, the export sector has shown a continuous double-digit export growth rate each month compared to the same month last year since March.

As of the end of November, the cumulative export amount reached 2.688 billion USD, an 18.2% increase compared to the same month last year, surpassing the total export amount of 2.55 billion USD in 2020, and the export growth trend is expected to continue.

Although offline overseas trade delegations have been dispatched annually, this year they were conducted online due to COVID-19, holding online export consultation meetings targeting India and Russia. Seventeen companies held 90 export consultations, achieving contract promotion results worth 7.87 million USD.

Additionally, through the 'Trade Delegation Follow-up' support project to continuously manage participating companies, six companies pursued contracts worth 240,000 USD through 204 marketing and consultation sessions, successfully concluding export contracts worth 90,000 USD. The previous year's export contract amount was 70,000 USD.

A city official said, "We will continue to create a business-friendly environment and expand investment attraction from excellent companies to build a livable Gimhae full of good jobs."

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