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Gyeongsangbuk-do Saves KRW 10 Billion in Local Government Expenditures through Corporate Investment in 2024 상세내용
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- Gyeongsangbuk-do Saves KRW 10 Billion in Local Government Expenditures through Corporate Investment in 2024
- 등록일2024-12-04 00:00:00
- 작성자 investment [황성운 ☎0548804630]
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- ed as Outstanding Local Government for Investment Attraction for Three Consecutive Years at the 2024 Local Investment Academy Event
- Honored with Prime Minister’s Commendation on November 21 for Efforts in Attracting Reshoring Companies
Gyeongsangbuk-do Province has announced its ion as an outstanding local government for investment attraction at the “2024 Local Investment Academy” event, held from December 5 to 6, hosted by the Ministry of Trade, Industry and Energy (MOTIE). This achievement ensures an increased national subsidy rate of 5% for three consecutive years, from 2023 to 2025. Particularly noteworthy is the 10% increased support rate granted to 11 cities and counties within the province classified as erdeveloped regions.
*erdeveloped regions: Sangju, Mungyeong, Uiseong, Cheongsong, Yeongyang, Yeongdeok, Cheongdo, Seongju, Yecheon, Bonghwa, Ulleung
The Local Investment Promotion Subsidy program aims to stimulate corporate investment in regional areas as part of the balanced national development initiative. It supports 4 to 15 percent of the investment costs for companies relocating from the capital area or establishing new or expanded facilities in regional areas.
The MOTIE uates investment attraction efforts and post-investment management across 14 local governments outside the capital area and s those with outstanding achievements and efforts for investment attraction. Two provincial governments and one metropolitan city are recognized each year.
*2024 Outstanding Local Governments: Gyeongsangbuk-do, Chungcheongnam-do, Gwangju Metropolitan City
According to a Gyeongsangbuk-do official, the province has been ed as an outstanding local government since 2022, saving KRW 5.6 billion in local government expenditures to date (KRW 3.3 billion in 2023 and KRW 2.3 billion in 2024). The estimated savings for next year are approximately KRW 3 billion.
* 2023–2024 Investments: 14 companies, KRW 818.7 billion in investments, 915 new jobs created, KRW 111.3 billion in subsidies provided (KRW 79.9 billion in national fs, KRW 31.4 billion in local fs)
In addition, at the “2024 Reshoring Contribution Awards and Academy” held on November 21 by the MOTIE, Gyeongsangbuk-do was honored with the Prime Minister’s Commendation for its efforts to support the reshoring of overseas Korean companies. This achievement is expected to raise the national subsidy rate by 5% in 2025, leading to an estimated KRW 1.4 billion in local government savings.
As a presenter of best practices for outstanding local governments in investment attraction, Lee Nam-auk, Director of the New Consolidated Airport Investment Office of Gyeongsangbuk-do, emphasized the province’s strengths, including “resolving corporate challenges, proactive efforts to attract local and international businesses, favorable site conditions for companies, and well-established logistics and transportation infrastructure.” He stated, “Despite challenging local and international economic conditions, Gyeongsangbuk-do will spare no effort in providing the necessary support from a corporate perspective to ensure that businesses can maintain their growth momentum.”
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- 담당부서 :
- Gyeongsangbuk-do Provincial Gove
- 전화번호 :
- 054-880-4614
