Suncheon-si's Aggressive Efforts to Attract Businesses Amid Heatwave

Deputy Mayor Yoo Hyun-ho Leads Sales for South Coast Hub City Ecological Economy

Suncheon City, Jeollanam-do (Mayor Noh Gwan-gyu) announced that it has officially launched investment attraction activities in the second half of the year to firmly establish itself as a South Coast eco-economic hub city where people, technology, and nature coexist.

On the 2nd, led by Vice Mayor Yoo Hyun-ho, the city presented Suncheon’s differentiated urban brand compared to other cities to carry out investment attraction activities. They worked tirelessly on the ground targeting future advanced strategic industries such as secondary batteries and hydrogen, as well as companies in bio, space, hotel & resort, and cultural content industries.

[Photo by Suncheon City]

In particular, Vice Mayor Yoo, who took the lead as an economic salesman, is an economic expert with professional knowledge and know-how gained from years of handling Jeollanam-do’s economic and investment attraction affairs. Suncheon expects a great synergy effect from the combination of investment attraction experts, strategic policies, and excellent living conditions.

Despite the investment atmosphere shrinking due to the economic ice age in the first half of this year, Suncheon focused on strategic industries by creating investment infrastructure, establishing a space industry ecosystem for the new space era, and fostering the bio industry as a future new growth industry. It was recognized as an excellent city for living and working (Jikju-rak) and rapidly emerged as an optimal site for investment attraction, certifying itself as a competitive, business-friendly city.

Additionally, discussions were held with domestic conglomerates such as Lotte Chemical regarding the formation of a super-regional economic zone including the secondary battery industry in the South Coast Gwangyang Bay area special opportunity development zone. The city decided to respond more proactively to market demand. They also discussed corporate investments with Mirae Asset investment fund managers after understanding the local economic status and capital flow, seeking a strategic, company-centered customized investment plan unique to Suncheon.

A Suncheon city official said, “Despite the sluggish investment atmosphere in the first half of the year, Suncheon rapidly emerged as an optimal site for investment attraction,” adding, “We will secure a foundation for corporate investment attraction to respond to regional extinction and revitalize the local economy, and strategically carry out investment attraction activities in response to changes in future industries.”

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

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