-Holding an explanatory session for prospective investors on April 26 

o At 11:00 a.m. on April 26, the Gyeonggi Provincial Office is holding a large-scale explanatory session for foreign-based hi-tech businesses interested in making investments in the province at the Seoul Hyatt Hotel. 

o The session, which will be attended by about 400 people, including CEOs, representatives of chambers of commerce, financial institution heads, investment consultants and foreign emissaries in Seoul, will be focused on new investment opportunities, systems designed to provide assistance for foreigner investors, and introduction to the province’s vision of industrial development. 

o In the first session of the two-session event, Gyeonggi Province Governor Sohn Hak-kyu will make a 40-minute presentation entitled “Gyeonggi Province’s Strategy to Make It a Business Hub in Northeast Asia,” followed by introduction of the plan for operation of KINTEX (Korea International Exhibition Center), which is scheduled to be opened on April 29 as the largest convention center in Asia, and the Gyeonggi Tourism Organization President’s briefing on the plan for formation of a tourist hotel complex in Goyang. 

o In the second session that will be held in two seminar rooms for an hour from 02:00 p.m., working-level officials will explain the provincial office’s plan for formation of a foreigner-invested business complex for lease, and provision of support for R&D businesses, followed by a Q&A session. 

o Between July 2002 and March 2005, the Gyeonggi Provincial Office directly or indirectly created a total of 58,000 jobs by attracting $12.6 billion worth of investments from 68 foreign-based businesses, including 3M and Intel, in connection with its efforts to develop new growth industries through attraction of hi-tech manufacturing businesses and R&D centers. 

o As a result of making such positive efforts for attraction of foreign-based businesses, eleven businesses, including Metaldyne Korea, an automotive parts business, are engaged in risk operation, while twelve businesses, including ALVAC, a semiconductor and LCD manufacturer, have started building plants, and seven businesses (including Chisso, a manufacture of chemical materials used to make LCDs) have signed contracts for lease of sites. Those currently making preparations for investment in the province are reported to come to 38. 

o In regard to its target for attraction of investment of $2 billion from 40 foreign-based hi-tech businesses in 2005, a total of 15 businesses has confirmed their plan for investment of $600 million by the end of March. The Gyeonggi Provincial Office will continue to make efforts for attraction of investors during the remainder of the year with a focus on hi-tech businesses in Europe, Americas and Japan. 

o Those interested in participating in the aforesaid explanatory session for prospective investors, please contact the Investment Promotion Department of the Gyeonggi Provincial Office (at +82-31-249-2762) or the Secretariat for the Explanatory Session for Investors of the same office (at +82-2-544-3890).