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#Gumi #GumiIndustrialComplex #RegionalExtinction #IndustrialCity #PopulationDecline There was once a city that was the highest earner in South Korea. However, over the past nine years, approximately 60 billion won worth of monthly wages in that city have silently evaporated every month. Factories actually operated more and production value increased by over 10 trillion won, yet as many as 20,000 wage earners have disappeared. How can jobs disappear when production is increasing? ⏱ Timeline 00:00 The city that was once the highest earner in Korea 01:00 The golden age sucked in by the magnet of jobs (Population 420,000, average age 37) 03:50 Rooms with lights off — 10,000 studio apartments empty (Monthly rent 30,000 won, commercial vacancy 26%) 06:40 What really disappeared is not the population, but wages (Workers −20,952, −21.3%) 09:45 Production is 47 trillion won, but jobs have evaporated — 'Jobless recovery' 12:55 This is not just a problem for Gumi (Gunsan, Geoje, Pohang) 📰 Reference News and Materials Maeil Shinmun, "20,000 jobs evaporated despite hitting 45 trillion won... Gumi Industrial Complex urgently needs 'structural transformation'" — https://www.imaeil.com/page/view/2026... Yeongnam Economy, "Pohang Highest, Gumi Lowest National Industrial Complex Operating Rates" — http://www.ynenews.kr/news/articleVie... Maeil Shinmun, "Gumi National Industrial Complex Factory Operating Rate 61.3%→79.4%" (2022) — https://www.imaeil.com/page/view/2022... Asia Today, "LG Display Gumi P5 Plant Closed After 19 Years" — https://www.asiatoday.co.kr/kn/view.p... Kyongbuk Ilbo, "Gumi Exports Surge 95%... Trade Surplus of $2.5 Billion on Electronics Industry Boom" — https://www.kyongbuk.co.kr/news/artic... Maeil Shinmun, "Gumi's Trade Surplus Reaches Record High... Samsung Electronics' Global Supply Chain" — https://www.imaeil.com/page/view/2026... Shinailbo, "Gumi National Industrial Complex Designated as Specialized Zone for National Advanced Strategic Industries in Semiconductor Sector" — https://www.shinailbo.co.kr/news/arti... Maeil Shinmun, "[Lights Off in Studio Apartment Villages] Gumi, Gyeongsan, and Pohang Suffer from Vacancies... Rent Exemption as a Desperate Measure" — https://www.imaeil.com/page/view/2026... Daum News, "So Many Studio Apartments Are Empty... Studio Apartments in Indong and Jinmi-dong, Gumi Become Hollow" — https://v.daum.net/v/20260223172024225 Kukmin Ilbo, "Gumi City Takes Action to Solve the Problem of Abandoned Vacant Studio Apartments, a First in the Nation" — https://www.kmib.co.kr/article/view.a... Daum News (Korean Rust Belt), "Gunsan Unable to Recover from Shock of GM Plant Closure" — https://v.daum.net/v/20251111181350671 Edaily, "As Jobs Shrink Due to Shipbuilding Recession... Marriages in Geoje Plummet by 66%, Births by 76%" — https://edaily.co.kr/News/Read?mediaC... Money Today, "Pohang Population Falls Below 500,000 Despite Having POSCO" — https://news.mt.co.kr/mtview.php?no=2... 🔒 This video includes some scenes created using generative AI technology to aid understanding of the content. #Jobs #Manufacturing #LGDisplay #SemiconductorSpecializedComplex #LocalEconomy #PopulationDecline #LocalRealEstate

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