Economy
Changwon city is a hub of factories that heavy industry for many major companies, including Samsung Techwin, GM Korea, LG Electronics, Hyundai Rotem, Doosan Heavy Industries & Construction, Doosan Infracore, Doosan Engine, Hyosung, Hyundai Wia and STX Corporation. And also Jinhae-gu there is Korea Naval Base (Republic of Korea Navy) that is main economy. Masan has Export processing zones,it is like a free port zone. Changwon city is the capital of Gyeongnam-do(state). So Changwon has many government agencies.
Gross Regional Domestic Product of Changwon city is 21.7 trillion won which is higher than that of Gwangju and Daejeon. It earned 29 billion dollars through exports in 2008, higher than that of Busan, Gwangju, Daejeon and Daegu.
Changwon National Machinery Industry Corporation for the current 20% share of gross, and 41 percent of national industrial machinery, industrial robots, has been producing 80 percent that produce 38 trillion won, exports 172 billion dollars, more than 40 percent of total export Gyeongnam are occupied. Changwon Industrial Complex are large and 2000 small business tenants.
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Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)