Province Returns from US with a Pouch Full of Investments
(Published November 17, 2011)

-Signing of KRW 350 billion in investment MOUs with four local companies
-Creation of 1,500 jobs through a shopping mall and an advanced industrial production facility

– After Gyeonggi Province investment officials and Celguard signed a USD 200 million investment MOU in Charlotte, North Carolina, on November 14^th, provincial personnel and Celguard executives staged a performance to commemorate the successful investment by the 100^th foreign company during Governor Kim Moon-soo’s term. (G-News Plus)

With Gyeonggi Province Governor Kim Moon-soo as the leader, the Gyeonggi Province Investment Invitation Mission returned to Korea via Incheon International Airport on November 17^th after their successful trip to USA.

Governor Kim travelled to Las Vegas, Charlotte, and Washington D.C of the United States for six days from November 12^th to 17^th and signed USD 332 million (KRW 350 billion) in investment MOUs with four local companies.

These investment agreements will lead to the construction of a shopping mall and an advanced industrial production facility in the province, creating 1,500 jobs.

First, the province signed the USD 67 million Yeoju Premium Outlet expansion investment MOU with Shinsegae Chelsea in Las Vegas on November 13^th.

In accordance with the agreement, the 264,000 square meters site area of Yeoju Premium Outlet will be expanded by 198,300 square meters to 462,700 square meters by 2014. Retail area will also be expanded by two-fold from 25,800 square meters to 50,550 square meters. Additionally, 110 stores will be added to the current 140 stores for a total of 250 stores.

The provincial investment mission moved to the east and signed a USD 200 million investment MOU with Celguard in Charlotte, North Carolina, on November 14^th. Celguard is the No. 2 company in the global lithium ion battery separator market with 30% of the global market share. Their products are used in electric vehicles, laptops, and cell phones.

Starting this December, this company will invest USD 200 million (approximately KRW 22 billion) to create a lithium ion battery separator manufacture facility on a 69,993 square meters site within the Oseong Industrial Complex of Pyeongtaek City. Manufacturing will begin in late 2012, and the company plans to directly hire 450 people by 2017.

The MOU with Celguard attracted special attention since it was the 100^th investment agreement signed during Governor Kim Moon-soo’s 2 terms.

The investment mission then moved to Washington D.C. and signed investment MOUs with advanced material manufacturing companies Parker Hannifin (USD 35 million) and ATM1 (USD 30 million) on November 15^th.

Parker Hannifin manufactures filters and valves made of flexible materials. The company plans to begin construction of its manufacturing facility on a 33,000 square meters site within the Jangan Industrial Complex in April of 2012. The facility will be operational starting in April 2013. Parker Hannifin plans to directly hire 250 people and indirectly hire 700 people by 2016.

ATMI produces core chemicals and gases for semiconductor and display production. The company will begin construction of its production facility on a 26,400 square meters (8,000 pyeong) site in the Oseong Industrial Complex of Pyeongtaek City in July 2012 and start production in October 2013.

In addition to securing the four investment agreements, Governor Kim was the key speaker at the International Seminar for Human Rights Improvement Strategies in North Korea, co-hosted by the Database Center for North Korean Human Rights and the Johns Hopkins University Graduate School of International Relations. At this event, he insisted on collaboration between Korea and the USA to improve North Korean human rights.

Also, Governor Kim signed an MOU with the Children’s National Medical Center in Washington D.C. and agreed to collaborate in the provision of medical services to children in third world countries including North Korea and African nations.

– After signing the MOU, Governor Kim Moon-soo and Director Dr. Kurt Newman pose for a commemorative photo with persons related to the Children’s National Medical Center in Washington D.C on November 15^th. (G-News Plus)

– G-News Plus | Nam Gyeong-u echo2008@kg21.net

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