Suwon City Signs Investment Agreement with KS System, Attracts 375.5 Billion Won in Investments under 8th Administration

Suwon City in Gyeonggi Province signed an investment agreement with defense company KS System Co., Ltd. on the 4th, bringing the total number of companies and investments attracted since the launch of the 8th popularly elected administration to 25.

Suwon City announced on the 9th that, including the agreement with KS System, it has attracted investments totaling 375.5 billion won from 25 companies since the launch of the 8th administration.

According to an analysis by the Suwon Research Institute on the impact of corporate and investment attraction on the local economy, it is estimated that the production inducement effect amounts to 722.6 billion won, the value-added inducement effect to 256.2 billion won, and the employment inducement effect to 2,727 jobs.

Gyeonggi Suwon City signed an investment attraction agreement with defense company KS System on the 4th. Photo by Suwon City

Suwon City is creating a virtuous cycle in which both companies and the local economy grow together by attracting high-tech companies and investments. The city is focusing on attracting the headquarters and research and development (R&D) facilities of advanced companies, thereby continuously generating quality jobs.

A Suwon City official stated, "Based on the innovative win-win strategy of 'research in Suwon, manufacturing in the provinces,' Suwon will take the lead in fulfilling the national policy task of the 'Five Axes, Three Special Zones.' We will make every effort to have Suwon designated as a free economic zone."

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