Creation of Approximately 17,000 Direct and Indirect Jobs Expected
Signing of MOU to Establish a Production Hub for Advanced Ceramic Materials for Fuel Cells
Developing Gumi into a National Production Hub for Clean Hydrogen and Advanced Ceramic Industries
Boosting the Local Economy and Securing New Growth Engines
On February 11, the city of Gumi in North Gyeongsang Province signed an investment memorandum of understanding (MOU) with STP Co., Ltd. at COEX and agreed to cooperate in building a large-scale mass production facility in Gumi.
This investment is a project to firmly establish in Gumi the production of eco-friendly power generation equipment that uses advanced ceramic-based materials. It is expected to create more than 1,600 new jobs and have a significant ripple effect on revitalizing the local economy and advancing local industries.
From left: Choi Seongho, CEO of Mico Power; Choi Yongha, CEO of Mico Ceramics; Lee Seokyun, CEO of Mico; Kim Sangbeom, Vice President of S2P; Yang Geumhee, Deputy Governor for Economy of North Gyeongsang Province; Jeon Seonggyu, Chairman of Mico Group; Kim Jangho, Mayor of Gumi; Lee Nameok, Head of Airport Investment Headquarters, North Gyeongsang Province; Kim Youngcheol, Director of Economic Affairs, Gumi City; Yoo Taeran, Director of Investment Attraction, Gumi City; Jo Yonggyeong, Head of Investment Attraction Team 1, Gumi City /Provided by Gumi City Hall
The products to be manufactured at the Gumi plant are eco-friendly power generation systems based on ceramics, which offer a high power generation efficiency of around 60% or higher and emit relatively low levels of greenhouse gases and air pollutants. Because they can be applied in a wide range of areas, including data centers, industrial complexes, public facilities, and distributed power sources, they are drawing attention as a core energy technology that represents the carbon-neutral era.
STP, an affiliate of Miko Group, aims to establish a large-scale production system that leverages the group’s ceramic manufacturing capabilities through this investment in Gumi, building on its accumulated mass-production technology in ceramic materials and semiconductor components. Through this, the company plans to develop Gumi into a key manufacturing hub for ceramic components and eco-friendly power generation industries. A total of 600 billion won in facilities and construction investment is being pursued, and the creation of approximately 17,000 direct and indirect jobs is anticipated.
Recently, Gumi City has been rapidly transforming its industrial structure into that of a high-tech, industry-centered city by consecutively attracting investments in future strategic industries such as AI data centers and defense (LIG Nex1). This represents a symbolic change that shows Gumi is taking a preemptive approach to fostering future growth industries based on its existing manufacturing competitiveness and is emerging as a sustainable industrial city.
Through this business agreement, Gumi City has built an industrial ecosystem that now encompasses the eco-friendly energy industry in addition to its existing advanced strategic industries, and this is expected to further strengthen the city’s future growth engines. The city anticipates that it will not only create quality jobs in the region, but also drive the establishment of a Gumi-style energy industry cluster in areas such as the hydrogen economy and carbon neutrality.
Kim Jangho, Mayor of Gumi, said, "The attraction of this investment by STP is an important turning point for Gumi to leap forward as a core hub of the eco-friendly energy industry," adding, "Through the clean hydrogen and ceramic-material-based power generation industry, we will create quality jobs and generate economic benefits that local companies and citizens can tangibly feel."
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