‘Blueprint for a Major Leap in Gumi's Economy’ ... Economic Leap and Growth Engine Secured through Innovation

Designation of Next-Generation Semiconductor Specialized Complex and Attraction of Defense Innovation Cluster

Leading Innovation in Gumi National Industrial Complex and Establishing R&D Manufacturing Ecosystem

Gumi City Hall.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongguk Lee] Gumi City will actively promote strategic municipal administration communication starting in August through continuous regular briefings on major policies.

The city plans to establish a regular briefing system by each department to foster citizens' accurate evaluation and understanding of policies.

Accordingly, since the launch of the 8th term of the elected government, the Economic Support Bureau held the first ‘Gumi City Regular Briefing’ on the 18th at 10 a.m. in the Gumi City Hall Situation Room to overcome the economic crisis and achieve a second economic leap.

▲Corporate Support Division: Pursuing 30 trillion KRW investment attraction and creation of 10,000 jobs

With the announcement of a 1,000 trillion KRW investment plan by six major domestic conglomerates at the start of the 8th term, the city set a goal of attracting 30 trillion KRW in investment and creating 10,000 jobs, mobilizing all administrative power to revitalize the stagnant Gumi Industrial Complex.

To this end, the city plans to form the ‘Gumi City Corporate Attraction Advisory Group’ centered on experts and businesspeople and establish a ‘one-stop service support’ system from investment consultation to post-management to enhance investment reliability and satisfaction.

▲Goa 2nd Agricultural and Industrial Complex Industrial Facility Land Sales Proceeding Successfully

Despite the prolonged COVID-19 pandemic and other economic crises, the sales application rate for the Goa 2nd Agricultural and Industrial Complex reached 13% (6 companies, 4,300 pyeong).

Since the start of sales, the city reduced the sales price by 20% compared to the development cost to alleviate the financial burden on companies and plans to actively promote the sale of remaining plots to lead regional economic revitalization.

▲Labor Welfare Division: Spreading a culture of labor-management coexistence through improvement of workers' rights and welfare

To match the status of a city with 90,000 workers, the city plans to build a comprehensive welfare center for workers and additionally install a shared laundry facility for workers' uniforms.

Furthermore, the city is fully committed to improving the rights and welfare of approximately 90,000 workers by steadily implementing worker-centered welfare projects such as operating a labor law counseling center, happiness enterprise industrial safety and environment improvement projects, and small-scale enterprise environment improvement projects.

▲New Growth Industry Division: Attempting a new leap as a semiconductor supply hub

Gumi City has chosen semiconductor industry development, a core policy of the ‘Yoon Seok-yeol administration,’ as a breakthrough and is preparing for a new leap as Korea’s semiconductor supply hub through the designation of a ‘next-generation semiconductor specialized complex’ and expansion of the K-semiconductor belt in the Yeongnam region, focusing on semiconductor convergence components.

To this end, the city launched an ‘Industrial Policy Council’ based on industry-academia-research cooperation on the 11th and formed a working-level semiconductor expert council to actively respond to current issues.

▲Establishing a defense industry base leading regional economic growth

The Defense Innovation Cluster project supports strengthening the technological capabilities of local defense small and medium enterprises through effective technology development, application, and commercialization support in five new defense industry sectors.

The city plans to foster the local defense industry by building defense industry-related networks, holding seminars, and providing expert advice to attract the Defense Innovation Cluster.

▲Job Economy Division: ‘Gumi-type Jobs’ project progressing smoothly

Since the ‘Gumi-type Jobs’ project was finally selected as a government win-win regional job project on December 29, 2021, the city has been steadily implementing various follow-up projects such as constructing the Gumi Win-Win Cooperation Support Center, establishing the Win-Win Job Cooperation Foundation, raising a 6 billion KRW Win-Win Cooperation Fund, and operating the Win-Win Job Council.

▲Cheer up, small business owners! Supporting small businesses to recover the livelihood economy

The city is currently issuing guarantee certificates worth a total of 10 billion KRW to provide special guarantees and supports 3% of loan interest to help local small business owners overcome the crisis caused by the prolonged COVID-19 pandemic.

Additionally, the city supports small business owners by improving store management environments and providing management consulting under difficult business conditions, and plans to issue 70 billion KRW worth of Gumi Love Gift Certificates this year to increase small business sales.

▲Smart Industrial Complex Division: Leading manufacturing innovation in Gumi National Industrial Complex, establishing R&D manufacturing ecosystem

Since September 2020, the city has been actively promoting the Materials and Components Convergence Alliance project, currently underway with a budget of 116.8 billion KRW, aiming for ▲innovative changes in the product production cycle of manufacturing companies and ▲transition to a low-carbon, high-efficiency eco-friendly green industrial complex, accelerating a major overhaul of the industrial complex’s structure.

The Industrial Complex Renovation Project is based on 37 basic project plans linking the Gumi Industrial Complex hub with the Kimcheon, Chilgok, and Seongju complexes, aiming to improve aging facility infrastructure and working and living conditions.

The Small and Medium Research and Development Special Zone is building a manufacturing innovation cluster foundation where technology, startups, and growth circulate virtuously through new technology commercialization related to 5G-based smart manufacturing, including the Innopolis Campus project and special growth support projects for the special zone.

▲Corporate Support Division: Full-scale operation of Emergency Economic Measures T/F

On July 22, the city held the inauguration ceremony for the Emergency Economic Measures Task Force and, through five expert advisory meetings by task force teams, collected opinions from experts across various fields, identifying a total of 99 project tasks (totaling 494.4 billion KRW).

The task forces plan to promote 23 regional economy projects, 13 tourism economy projects, 13 welfare economy projects, 23 construction economy projects, and 27 rural economy projects. Among all projects, those significantly impacting small business owners and vulnerable groups will be prioritized in the first supplementary budget.

Jiyoung Mok, Director of the Economic Support Bureau, said, "Careful consideration is needed for vulnerable groups experiencing relatively more difficult times due to inflation and other effects. We will make all-out efforts to overcome the challenging economic situation of the three highs (high inflation, high interest rates, high exchange rates) and lay the foundation for a new leap forward."