City and Companies Sign Strategic Industry Investment Agreement
192 New Jobs to Be Created
Kang Kijeong, mayor of Gwangju, attended the "2025 Gwangju Core Strategic Industry Investment Agreement Signing Ceremony" held in the city hall business room on the afternoon of the 27th, signed the agreement, and posed for a commemorative photo. Provided by Gwangju City
Six automotive parts companies and four artificial intelligence (AI) companies, a total of ten companies, have pledged to invest a combined 106 billion KRW in Gwangju.
On the 27th, the city of Gwangju signed a 'Strategic Industry Investment Agreement (MOU)' worth 106 billion KRW with ten companies, including Hyundai Hitech Co., Ltd., Kwangwoo RNA Co., Ltd., Suin Industry Co., Ltd., MPS Co., Ltd., IN Tech Co., Ltd., YSP Co., Ltd., Jungwon Safety Technology Co., Ltd., Switch On Co., Ltd., Daewon Information Technology Co., Ltd., and SY Company Co., Ltd., at the City Hall Business Room.
The signing ceremony was attended by Mayor Kang Gijung, Sun Seokki, head of the Gwangju Free Economic Zone Authority, and representatives of the ten investing companies. These companies are high value-added manufacturers related to Gwangju’s key industries, such as automotive parts, electronics, molds, and AI components and materials.
The companies plan to focus their investments on the automotive and AI sectors, which Gwangju is strategically fostering, thereby enhancing the competitiveness of the local industry. They are also expected to have a positive impact on the local job market by creating 192 new jobs. Additionally, by establishing production bases and strengthening research and development in Gwangju, they aim to contribute to the advancement of the local industrial ecosystem.
In particular, this investment agreement is expected to go beyond simple investment attraction, serving as an opportunity to strengthen the industrial ecosystem of the Gwangju region and invigorate the local economy.
Mayor Kang Gijung stated, "Thanks to companies that invest and take on challenges for the future despite difficult internal and external circumstances, Gwangju’s economy and job market are gaining strength. We will actively support this agreement so that it leads to revitalization of the local economy and the sustainable growth of the companies."
Meanwhile, the city of Gwangju is actively working to resolve obstacles and listen to difficulties from the investment attraction stage to ensure the smooth settlement of investing companies. Financially, the limit for local investment promotion subsidies has been increased from 10 billion KRW to 15 billion KRW per project. Uniquely among metropolitan cities, Gwangju was selected last year as an excellent local government for investment attraction and is providing a 70% national subsidy, which is 5% higher than other local governments.
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