Business Leaders, Invest in Changwon Special City!

Changwon City Actively Promotes Investment Attraction with Letter Expressing Commitment to Corporate Investment

Changwon Special City Hall, Gyeongnam.

[Asia Economy Yeongnam Reporting Headquarters Reporter Song Jong-gu] On the 5th, Changwon Special City in Gyeongnam sent letters from the mayor and promotional materials to about 200 companies inside and outside the region to express its commitment to attracting corporate investment and to guide related support systems.

The letter presented Changwon City's economic growth blueprint, including the advancement of core industries and fostering future new industries, and expressed the intention to prevent the relocation of local companies outside the region and encourage reinvestment by providing a differentiated investment environment and customized support for each company, while also showing the will to attract promising companies from outside the region.

Additionally, the enclosed promotional materials include contents reflecting the recently revised ordinance, such as providing a 100% additional support of the Changwon citizen new regular employment subsidy when youth employment occurs in companies relocating within the region or investing in new or expanded facilities.

The city is engaging in multifaceted corporate attraction activities in response to changes in industrial conditions, such as discovering investment sites and improving systems. In the second half of this year, a large-scale survey of idle land is planned, and it is expected that once an integrated idle land system is established based on this, more immediate responses to corporate investment demands will be possible.

Furthermore, the city plans to revise the Changwon City Investment Attraction Support Ordinance and Enforcement Rules to expand the target of special support for strategic industries (up to 2 billion KRW) from the existing hydrogen, defense, aviation parts, and energy industries to include nuclear power and semiconductors. The city will also focus administrative efforts on the designation of the energy industry convergence complex promoted by the government, and once designated, plans to induce practical investment by supporting research and development, local investment subsidies, and tax benefits for local nuclear power industry partner companies.

Hong Nam-pyo, mayor of Changwon Special City, said, “Through continuous corporate investment attraction activities, we will lead the reinvestment of local companies and attract promising companies to the region to revitalize the local economy, and focus on creating a business-friendly investment environment through investment incentives.”

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