Gumi City Receives Presidential Citation for Foreign Investment Attraction... Proving Itself as a Global 'Investment Hub'

Award for Foreign Investment Attraction Contributors, Presidential Citation

Investment Attraction Enhances Employment Creation and Competitiveness in Gumi Industrial Complex

Gumi City in Gyeongbuk received the Presidential Citation at the ‘2024 Foreign Investment Attraction Merit Award Ceremony’ hosted by the Ministry of Trade, Industry and Energy, held on the 5th at the Grand Intercontinental Parnas Hotel in Seoul.

(From left) Eom Gi-deuk, Director of Investment Attraction Division, Gumi City; Jeong In-gyo, Head of Trade Negotiation Headquarters, Ministry of Trade, Industry and Energy; Kim Pal-geun, Director of Advanced Industry Bureau, Gumi City.

This citation recognizes Gumi City's successful efforts in attracting foreign investment companies such as Toray Advanced Materials and HiMK.

Gumi City has continued active investment attraction, including the groundbreaking ceremony for Toray Advanced Materials' Gumi Plant 4 carbon fiber facility in October last year, the groundbreaking ceremony for Austrian investment company HiMK's Gumi Indong Plant in April this year, and the groundbreaking ceremonies for Toray Advanced Materials' Gumi Plant 5 IT Film units 13 and 14 and Gumi Plant 1 Aramid Fiber unit 2 in October. Additionally, a new factory planned for a Chinese semiconductor foreign investment company, expected to create large-scale employment, is underway, indicating that foreign investment in Gumi City is expected to expand further.

Currently, about 40 foreign investment companies, including Toray Advanced Materials, are established in Gumi City. These companies produce materials, parts, and equipment in advanced fields such as automobiles, secondary batteries, semiconductors, displays, and mobile devices, playing a pivotal role by supplying major domestic conglomerates like LG, Samsung, and Hyundai-Kia Motors.

The Gumi Foreign Investment Zone, established to revitalize foreign investment in non-metropolitan areas, covers a total of 32 plots over 1.68 million square meters and currently has only four plots remaining, demonstrating high investment demand. As of last year, approximately 3,200 people are employed there, with production valued at about 2.1497 trillion KRW and export performance of 1.04921 billion USD, significantly contributing to the local economy.

Gumi City is focusing on improving residential environments such as transportation, education, and culture to ensure the stable settlement of foreign investment companies. In addition, various support measures aligned with national industrial policies, including the semiconductor specialized complex, defense innovation cluster, and opportunity development special zones, are being promoted. To provide swift support from the initial investment stage for workforce supply and permit procedures, a Project Manager (PM) is designated to offer one-stop services from factory groundbreaking to completion.

Going forward, the city plans to strengthen its position as the ‘No. 1 Investment Destination’ by dispatching investment attraction teams and holding investment environment briefings. It will also actively manage post-settlement support and address grievances of resident companies to create an environment where foreign investment companies can operate with confidence.

Mayor Kim Jang-ho stated, “Attracting foreign investment is a core national industrial policy and an important project that shapes the future for the next hundred years,” adding, “We will do our best to make Gumi the best choice for foreign investment.”

2024 Foreign Investment Attraction Merit Award Ceremony.