Gimhae City Signs Investment Agreement Worth 180.5 Billion Won... Aiming to Surpass 900 Billion Won This Year

Published 11 Nov.2021 20:41(KST)

Updated 10 Aug.2025 23:43(KST)

Mayor Heo Seong-gon of Gimhae is signing an investment agreement with representatives of four companies. <br>[Image source=Gimhae City]

Mayor Heo Seong-gon of Gimhae is signing an investment agreement with representatives of four companies.
[Image source=Gimhae City]

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] On the 11th, Gimhae City in Gyeongnam signed investment agreements with four companies: Pacific Asset Management, Korea Mobility, Donghwa Industry, and DL Motors.

Pacific Asset Management will invest 160 billion KRW to build a large logistics center in Andong, Gimhae City, and sequentially hire 622 employees by 2023.

Korea Mobility will relocate its headquarters from Busan to Seogimhae General Industrial Complex. The company will invest 8.3 billion KRW to build a pet care vehicle manufacturing plant and hire 32 employees.

Donghwa Industry, located in Busan, will invest 6.7 billion KRW to establish a valve manufacturing plant for water and sewage systems in Seogimhae General Industrial Complex.

DL Motors, an auto parts company headquartered in Changwon National Industrial Complex, will invest 5.5 billion KRW to expand production facilities and hire 30 employees in Juho General Industrial Complex, Gimhae.

Including this investment, Gimhae City has attracted investments totaling 996.7 billion KRW from 48 companies this year, surpassing the target amount of 900 billion KRW.

Mayor Heo Seong-gon said, “I hope this large-scale investment agreement will revitalize the manufacturing industry, which has been depressed due to the sharp rise in raw material prices. We will do our utmost to attract promising companies in new growth industries for the recovery of the local economy.”