GWANGJU < invest Korea

- Increased the sales amount by 8.4% and permanent employments by 6.6% compared to previous year
- Growth of regional key industries such as automotive, optical industries, etc. accelerates together

Gwangju Metropolitan City announced that the sales amount in 2013 was increased by 8.4% and the permanent employments by 6.6% compared to 2012 in the regular survey results of the businesses supported with investment subsidy performed in April.
※ Subsidy payment status for surveyed businesses: total 35.65 billion won from 2005 to 2013 (national expenses: 14.3, city expenses: 21.35)

The survey has been conducted for the 52 businesses paid the investment subsidy out of the non-regional businesses attracted so far by Gwangju City such as capital region, new businesses and expanded businesses and as of end of 2013, it represented that total sales amount was 1 trillion 817.89 billion won and 3,355 permanent employees have worked.
- (Total sales amount) 1,676.3 billion won in 2012 → 1,817.9 billion won in 2013 (increased by 141.6 billion won, increase rate: 8.4%)
- (Number of permanent employees) 3,147 in 2012 → 3,355 in 2013 (increased by 208 persons, increase rate: 6.6%)

Such rapid settlement of the businesses invested in Gwangju is analyzed that the increase of order volume of the businesses invested in the automotive industry, etc. by building the 620 thousand car production system of KIA Motors in last year resulted in sales amount increase.

In addition, in the past, the government investment subsidy with the national expenses and local government expenses (currently national expenses 65% and local government expenses: 35%) supported around the businesses transferred from capital region, but from 2011, as it supported to the regional new businesses and expanded businesses, it seemed that the regional investment would be accelerated and contributed to the gradual increase of sales amount and the permanent employees.
- (Subsidy amount by year) 3.4 in 2010 → 9.4 in 2011→ 10.7 in 2012 → 10.7 billion won in 2013

For example, in case of K company, the vendor of KIA, transferred from Seoul to Gwangju in 2011, the sales amount was increased from 127.4 billion won in 2012 to 137.0 billion won in 2013 by 10 billion won and it is expected to achieve 150 billion won this year.

In addition survey results represented that the considerable number of businesses are considering new investment such as additional facilities expansion for the short- and mid-term responding to the policy of '1 million car production city' promosted earnestly by Gwangju City.

In the meantime, Gwangju City is attracting the businesses dedicated in the regional strategic industries such as automotive, optical, home appliances, etc. among the promising businesses located in other region including capital region and to encourage the provincial investment of the attracted businesses, it is supporting the investment subsidy, the most direct means, to investment businesses according to the investment amount and permanent employment size.
※ Entered into investment agreement with total 318 businesses amounted with 2,448.4 billion won since second half of 2010

The Gwangju City official said, "we will reinforce the various administrative supports such as investment subsidy system, etc in order to increase the number of permanent employees more by accelerating the non-regional businesses' rapid settling down and re-investment in Gwangju region".