Naju Innovation City, Leading in Corporate Attraction and Job Creation Achievements

[Naju=Asia Economy Honam Reporting Headquarters Reporter Kim Yukbong] A study has revealed that the Gwangju-Jeonnam (Bitgaram) Joint Innovation City established in Naju, Jeonnam, has shown the most remarkable achievements in corporate attraction and job creation among innovation cities nationwide over the past five years, drawing attention.

According to Naju City (Mayor Kang In-gyu) on the 23rd, the Ministry of Land, Infrastructure and Transport recently announced the results of a Korea Research Institute for Human Settlements project titled ‘Innovation City Performance Evaluation and Policy Support,’ which showed that among the 10 innovation cities nationwide, the innovation city had the highest growth rates in the number of businesses, employees, female employment, and regular workers.

The study was conducted to comprehensively evaluate the outcomes of the relocation of public institutions to local areas and innovation city policies pursued since the participatory government and to propose future development strategies for innovation cities.

The Naju Innovation City achieved top-level results nationwide in growth-driving sectors that enhance innovation capabilities, such as job creation and regional economic revitalization resulting from the innovation city construction project.

First, the total number of businesses in Naju Innovation City increased from 5,626 in 2012 to 7,633 in 2017, a rise of 2,007 (35.7%), significantly surpassing the national innovation city average growth rate of 13.8%, showing the highest increase rate.

Following the innovation city was Chungbuk (29.1%), while Busan (8.4%) recorded the lowest growth rate over five years.

The increase in businesses led to employment creation, and the employment growth rate in Naju Innovation City over the past five years was also the highest.

The total employment in the innovation city rose from 28,696 in 2012 to 46,381 in 2017, an increase of 63.6% (18,135 people), which also greatly exceeded the national average growth rate of 25%.

A notable aspect of the employment growth rate is the increase in female workforce employment.

The number of women employed in innovation city businesses jumped significantly by 52.5% (6,507 people), from 12,403 in 2012 to 18,910 five years later, ranking at the top nationwide in growth rate.

The Korea Research Institute for Human Settlements stated that the concentration level of workers related to innovation cities and relocated public institutions’ related industries, based on the number of employees, increased approximately 4.6 times, indicating that the pre-innovation city non-core industries have now transformed into core industries.

The number of regular workers, directly linked to the quality of employment and the increase in stable job creation, was also the highest nationwide.

The number of regular workers in the innovation city increased by 75.1% (13,919 people), from 18,528 in 2012 to 32,447 in 2017.

Meanwhile, the city has attracted a total of 391 companies to date, of which 278 were companies attracted to the Innovation Industrial Complex, Innovation City Cluster, and others, and 113 were companies attracted to Gwangju and other areas.

In particular, the number of companies in the innovation city increased by 1,570, and the number of jobs by 13,556, over the five years from 2012 before the innovation city was established.

Mayor Kang In-gyu said, “The results according to the Korea Research Institute for Human Settlements’ study mean that the innovation city is establishing itself as a regional growth hub for the government’s national balanced development,” adding, “We will accelerate job creation, corporate attraction, and improvement of living conditions through active cooperation with the government, central ministries, and metropolitan local governments so that Bitgaram Innovation City can lead Innovation City Season 2.”