Changwon-si Jinhae-gu Sees Active Corporate Investment After Industrial Crisis Area Designation... 6,374 New Jobs Created

Map of major investment sites in Changwon-si, Gyeongnam.

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Sang-hyun] Changwon City in Gyeongnam announced on the 25th that since Jinhae-gu was designated as a Special Industrial Crisis Response Area in May 2018, it has attracted corporate investments totaling 1.8467 trillion KRW and created 6,374 new jobs as of last month.

Major investing companies include Coupang, which is establishing a smart logistics center in Dudong District, Jinhae-gu with an investment of 298.6 billion KRW and 3,200 new jobs, and Highland Innovation, which is investing 230 billion KRW to build a food processing factory in Nammun District, creating 600 new jobs.

Regarding corporate investment attraction by period, from June 2018 to May 2019, the investment amount was 43 billion KRW with 110 new jobs; from June 2019 to May 2020, 523.3 billion KRW with 1,554 new jobs; and from June 2020 to May 2021, 1.241 trillion KRW with 4,630 new jobs, showing an increasing trend year by year.

This is expected to greatly help alleviate job-seeking demand in Jinhae-gu and contribute to the recovery of the local economy.

The city is not satisfied with this and plans to maximize corporate investment attraction by establishing regional characteristic and institutional investment attraction strategies, including the hinterland area of Jinhae New Port.

Park Myung-jong, Director of the Economic and Job Creation Bureau, said, "Jinhae-gu is actively progressing with national projects such as the Free Economic Trade Zone and the development of the New Port," adding, "We will leverage strengths such as the high incentive support rate under the Special Industrial Crisis Response Area to carry out sustainable investment attraction activities."