Changwon Special City, Successful in Attracting Companies... Thoroughly Managing Follow-up Care

Hong Nampyo, Changwon Special City Mayor, "Will Spare No Administrative and Financial Support

to Implement Investment Agreements and Create Jobs"

Changwon Special City in Gyeongnam is gradually seeing the fruits of its corporate investment attraction efforts and has decided to meticulously manage both the preliminary verification and post-management of investment agreements.

Changwon Special City in Gyeongnam signed an investment agreement worth a total of 20.5 billion KRW with Woorim PTS.

The city signed investment agreements worth 161.1 billion KRW with four companies within just four days from the end of last month to early this month. The resulting new employment is expected to be close to 200 people.

This year, the city has put considerable effort into attracting companies. Last month, it completed the establishment of an investment attraction system to provide information on idle sites to companies in need of land. In addition to individual company visits, in March, the city sent letters expressing its commitment to corporate investment attraction along with promotional materials to about 200 companies both inside and outside the region.

◆ Recent Investment Attraction of 161.1 Billion KRW from Four Companies

On the 30th of last month, at the ‘2023 Gyeongsangnam-do Investment Attraction Roadshow,’ the city signed investment agreements with three companies: Romansys, DI System, and Naigai Busan Logistics Center.

Romansys, a railway company based in Changwon that manufactures railway vehicle parts and complete vehicles, plans to invest 82.5 billion KRW by 2026 to expand its existing business site by adding a maintenance factory, painting factory, and R&D center, and to hire 60 new employees. DI System, an air conditioner heat exchanger manufacturer based in Gimhae, plans to invest 32.1 billion KRW by 2025 to establish a new Changwon plant within the Changwon National Industrial Complex and hire 20 new employees.

Naigai Busan Logistics Center, located in the hinterland of the New Port North Container Terminal, plans to invest 26 billion KRW by 2024 to establish a logistics warehouse in the Ungdong hinterland complex. It is particularly planning to handle various cargo such as electric vehicle batteries, automotive parts, and shipbuilding marine equipment, as well as disassembly, labeling, and repackaging, which is expected to generate about 60,000 TEU of new cargo and create 75 jobs.

Additionally, on the 2nd, the city signed an investment agreement worth 20.5 billion KRW with Woorim PTS. Woorim PTS plans to establish a core product manufacturing plant in the aerospace, defense, and robotics sectors within the Changwon National Industrial Complex and is expected to create 30 new jobs.

◆ One-Stop Support for Demand-Centered Corporate Investment

The city began building the Changwon investment attraction system in February, completed it in May, and recently digitized 83 records of idle sites.

The investment attraction system was promoted to establish an integrated management system for scattered idle site data within the city and was built as a responsive website that can be used anywhere to support the smooth investment attraction work of employees responsible for attracting companies and public institutions.

In particular, to provide timely idle site information to potential investors interested in Changwon, the portal’s public map service was utilized to allow users to search site locations on the map and view various location information such as land use plans and tenant industries together.

Along with this, the city has formed and operates a ‘Corporate Investment SOS Task Force (T/F Team).’ This service provides a unified window to handle the complex and diverse difficulties arising during the investment process, offering convenience so that companies can focus solely on their business activities.

◆ Preliminary Verification and Post-Management of Corporate Investment Attraction

Alongside active investment attraction activities, the city plans to enhance the effectiveness of attraction by continuously managing the preliminary verification of investment agreements and monitoring the progress after agreements are made.

Accordingly, the city will monitor and check the overall situation, including whether actual investments are being made after signing investment agreements, and will thoroughly conduct prior legal reviews of contracts and agreements.

Hong Nam-pyo, Mayor of Changwon Special City, said, “We are grateful to the companies that decided to invest in our city despite the difficult economic conditions,” and added, “We will spare no administrative and financial support to ensure that investments under the agreements are practically implemented and that the planned jobs are created.”

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