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Gwangju seeks to attract minor shareholders for its job project

'광주형 일자리' 완성차 공장에 시민도 주주로 참여한다

Gwangju seeks to attract minor shareholders for its job project

 

The City of Gwangju is looking for ways to involve citizens to its newly signed job project.

Hyungjin Ro will tell us more.

 

Gwangju City is seeking to attract citizens as well as those from labor circles as the shareholders for the construction of the Hyundai Motor Factory, the first step for the Gwangju type job project.

 

According to the City, it will enter into a practical consultation on the establishment of a joint venture on the 14th, that’s two weeks after the signing of an investment agreement with Hyundai Motors.

 

It is planning to establish detailed conditions for investors’ recruitment through consultation, including a profit creation plan to increase investor willingness.

 

In particular, in order to secure the sustainability of the project, it is considering ways to fill a part of the joint venture corporation share by attracting shareholders among citizens, SMEs, Hyundai-related companies, and the labor community.

 

The new car factory will have a base capital of roughly 280 billion won. The City government will be the largest shareholder with a 21 % stake and an investment of 59 billion won.

 

Hyundai Motors will be the second largest shareholder with a 19 % stake in the venture and an investment of 53 billion won. Gwangju now plans to attract additional investors to the project to raise the remaining 168 billion won in capital.

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