Defense Industry Innovation Cluster Attraction Gains Momentum... Kim Jang-ho, Mayor of Gumi, Marks the First Highlight of the New Year

Visit to Defense Small and Medium Enterprise 'LC Tech'

On the 2nd, Kim Jang-ho, mayor of Gumi City, visited an arms manufacturer as his first external schedule after returning to work in the new year to check the site.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Gumi City, Gyeongbuk (Mayor Kim Jang-ho) is launching a full-scale project to attract the Defense Industry Innovation Cluster in the new year.

With the start of the new year, Gumi City visited defense-related small and medium-sized enterprises (SMEs) to encourage workers and expressed its determination to attract the Defense Industry Innovation Cluster.

At 12 noon on the 2nd, Kim Jang-ho, mayor of Gumi, visited the defense SME "LCTech (CEO Kim Young-bok)" located in Gongdan-dong, held an executive meeting and conducted an on-site tour. Afterwards, he had a meal with the workers in the company cafeteria and listened to their difficulties.

LCTech, established in 1998, has focused on the development and production of electric motor servo control systems necessary for military guided weapons, advancing technology in the guided weapon drive device field. In 2022, through various technology developments, it was selected for core component localization projects worth 4 billion KRW and purchase-conditional projects worth 800 million KRW, receiving over 8 billion KRW in national funding.

Mayor Kim Jang-ho of Gumi emphasized, "This year, Gumi plans to definitely attract the Defense Industry Innovation Cluster and create new future growth engines for the region through the defense industry."

Gumi City explained that choosing SMEs as the first destination of the mayor’s work was to show the will to empower SMEs and revitalize the national industrial complex.

The defense industry plays a role as a national testbed for cutting-edge technology development and has significant scientific and technological ripple effects. It is a sector that the current government is focusing on fostering as a national power industry.

The "Defense Industry Innovation Cluster" is a project aimed at strengthening capabilities by nurturing local defense-related small and venture companies with technological expertise in cooperation with local universities and research institutes. It is the first project in which the Defense Acquisition Program Administration collaborates with local governments. Currently, Gumi City, together with Gyeongsangbuk-do Province, is putting all efforts into attracting the 2023 Defense Industry Innovation Cluster project.

Gumi is the largest hub in the electrical and electronics sector of the national industrial complex. At the end of last year, it attracted investments worth 310 billion KRW from Hanwha Systems and LIG Nex1, and accelerated defense industry competitiveness with the groundbreaking of the defense company Samyang Comtech’s factory.

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