Gumi Attracts KRW 17 Trillion in Investments... Pathway to Overcoming Regional Decline

Winner of the Corporate Attraction Innovation Award

13,000 New Jobs Created, Population Decline Reduced to One-Fifth

Gumi City in North Gyeongsang Province has demonstrated results in overcoming the crisis of regional extinction by attracting corporate investments worth more than KRW 17 trillion and creating jobs.

Commemorative photo for winning the Corporate Attraction Innovation Award at the Republic of Korea Regional Guardian Awards
Photo by Gumi City

On September 16, at the Korea Press Center in Seoul, Gumi City received the Corporate Attraction Innovation Award at the 'Republic of Korea Regional Guardian Awards.'

From 2022 to the present, Gumi successfully attracted investments totaling KRW 17.22 trillion from over 1,200 companies and created more than 13,000 jobs, achievements that received high praise.

During the 8th municipal administration alone, the city brought in KRW 16.1635 trillion, and within just one month of the 9th municipal administration's launch, it secured KRW 1.055 trillion from 23 companies.

The expansion of investments, especially in advanced industries such as semiconductors, defense, AI, and robotics, has led to improvements in the region’s economic indicators.

Last year, local tax revenue reached KRW 460.5 billion, a 17.4% increase from the previous year, while the number of companies rose from 3,444 in 2022 to 3,834 last year.

In the first half of this year, the employment rate was 64.0%, and exports amounted to USD 21.3 billion.

Job creation has also helped retain population. The annual population decline, which stood at 4,471 in 2022, was reduced to 937 last year—down to one-fifth of the previous level.

The number of births increased for two consecutive years, rising from 1,892 in 2023 to 2,014 in 2024, and to 2,055 last year.

Gumi City has been operating a team dedicated to addressing business challenges and a one-stop administrative service team, while also reinforcing the strategic industrial base with initiatives such as the semiconductor specialized complex and the defense innovation cluster. Efforts to enhance healthcare, childcare, and residential infrastructure are also accelerating.

Mayor Kim Jang-ho stated, "We will further strengthen the virtuous cycle whereby attracting companies leads to employment, an inflow of young people, and revitalization of the local economy, creating a model for overcoming regional extinction."

Investments totaling KRW 17 trillion have resulted in increases in both jobs and births, with Gumi’s model—'corporate attraction is regional revitalization'—now visible in the numbers.

This content was produced with the assistance of AI translation services.