-The Provincial Office is holding an explanatory session for investors on April 26

On April 26, the Gyeonggi Provincial Office will hold an explanatory meeting at the Hyatt Hotel Seoul for invitation of investments in the province toward representatives of foreign businesses operating in Korea and officials from foreign embassies in Seoul.

At the session, about 500 people are expected to attend, including commercial attaches at Austrian, German, French, Hungarian, Japanese, Panamanian, Polish, Swiss, Turkish and U.S. embassies in Seoul, officials from IE Singapore, Bank of China, Nippon Steel, Mitsui, KUSEC (Korea-U.S. Economic Council), KOTRA and business representatives. The session will be conducted with simultaneous interpretation into English and Japanese.

The explanatory meeting will start at 11:00 and be composed of two parts. Part-1 will start with a seven-minute video introduction to the province’s general environment for investors, including remarks from officials of Siemens and Hoya, a Japanese LCD Photo Mask manufacturer, on their successful experience in investment in the province.

– Gyeonggi Province Governor Sohn Hak-kyu will make a 40-minute presentation on the subject of Our Strategy to Realize the Vision of Becoming a Hub in Northeast Asia and then explain how his office provides support for foreign-based hi-tech businesses interested in operating in the province, including free lease of land and tax incentives, in addition to introduction of decisions made by 3M, Intel, etc for investment in the province.
-The presentation will be followed by KINTEX CEO’S introduction of the plan for operation of the newly-opened exhibition center and Kyeonggi Tourism Organization President’s explanation on the plan for formation of a tourist hotel complex in Goyang.

At Part-2 to be held in two seminar rooms for one hour after lunch, relevant provincial officials will make introductory presentation for investors, followed by a Q&A session.
-In the Seminar Room “A,” the presentation will be made on the province’s plan for supply of leased lots for investors. In the Seminar Room “B,” the presentation will be focused on the site conditions for R&D businesses and the province’s plan for support for them, followed by a Q&A session. The afternoon session will also be conducted with simultaneous interpretation into English and Japanese.

A provincial official said, “Investments from foreign-based hi-tech businesses offer positive effects, such as enhancement of the national competitiveness, increase in production, exports and jobs, improvement in trade balance, enhancement of technological level and innovation in the industrial structure, by acting as stimulus to domestic businesses.”

He added that the provincial office’s strenuous efforts for attraction of investments that were started with Governor Sohn Hak-kyu’s inauguration in July have resulted in investment of $12.6 billion from 68 foreign-based businesses, including 3M and Intel, and 58,000 new jobs.

The official said that the provincial office would make a close analysis what is discussed at the explanatory session held this time and set up a future strategy to carry out further activities for attraction of investments through flexible administrative measures and all-directional efforts.

He also emphasized the need for the central Government’s amendment to the Enforcement Ordinance of the Law Pertaining to Invigoration of Industries and Establishment of Factories, as it poses as a barrier to attraction of hi-tech businesses in the province.

o For inquiries, please contact the Secretariat for Attraction of Foreign-based Hi-tech Businesses (+82-2-544-3890) or Department of Investment Promotion at Gyeonggi Provincial Office (+82-31-249-2762).