Gumi-si, Gyeongbuk Opens $30 Billion Export and 40 Trillion Won Production... Growth Rate Expected at 2.2% This Year

Gumi National Industrial Complex.

[Asia Economy Yeongnam Reporting Headquarters Reporter Yeo Jong-gu] Gumi City, Gyeongbuk Province, has set an economic goal of $30 billion in exports this year. It announced on the 6th that it expects continuous economic growth following last year by achieving production of 40 trillion won, employment of 85,000 people, and an overall growth rate of 2.2%.

Despite the COVID-19 crisis last year, Gumi City recorded export performance of $29.6 billion, the best result in seven years since 2014.

Production and employment based on the national industrial complex were 39 trillion won and 83,200 people, respectively, showing a 7% increase and a 1% decrease compared to the previous year's performance.

Although the number of employed people showed a decrease on an annual basis, it has been steadily increasing since July last year. Considering the government's economic growth rate, the employment outlook for this year is positive.

Jang Se-yong, mayor of Gumi City, said, "Although difficult situations such as global supply chain disruptions are expected this year as well, we will make every effort in all administrative areas including funding, exports, and jobs to definitely continue the economic growth trend for two consecutive years."

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