Gimhae City Signs Investment Agreement Worth 56.2 Billion KRW with 13 Companies in Key Industry Sectors

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] On the 29th, Gimhae City in Gyeongnam announced that it signed an investment agreement worth 56.2 billion KRW with 13 companies in key industries such as machinery, metal, and automobile parts.

Representatives from 13 companies including MJ Tech, SW Solution, Geodum, and Shinhan Sten attended the agreement ceremony held that day.

The companies plan to sequentially carry out investments such as land acquisition, facility investment, and new workforce recruitment by 2023 to move into the Easy General Industrial Complex in Juchon-myeon, scheduled for completion in December.

More than half of the companies in the agreement are relocating their headquarters to Gimhae City from other regions such as Busan and Ulsan (5 companies) or newly establishing companies (2 companies), while some are expanding their business sites through reinvestment within the jurisdiction.

Regarding the scale of investment and new employment by company, MJ Tech plans to invest 12 billion KRW (45 employees), SW Solution 7.6 billion KRW (15 employees), Geodum 6 billion KRW (25 employees), Seoryung Precision 5 billion KRW (10 employees), and Shinhan Sten 4.9 billion KRW (10 employees), totaling 56.2 billion KRW investment and 173 new hires.

Mayor Heo Seong-gon said, “I thank the companies that made bold investments despite the economic downturn caused by the prolonged COVID-19 pandemic, and I will do my best to make Gimhae a business-friendly city so that more companies can invest in our city.”