The FDI Attraction Advisory Council , which will be composed of top-notch professionals, has been launched

Gyeonggi Province is operating an FDI attraction system with the new lineup of a team of investment attraction advisors with the cooperation from the private sector.

On April 10, the provincial office held a ceremony for the launch of the 4th FDI Attraction Advisory Corps, which will be composed of 25 premium experts upon the termination of the term of the 3rd Corps. After the ceremony, provincial officials and the experts sat down together to discuss how to invigorate investment attraction activities.

At the informal gathering that was held at the governor’s official residence after the ceremony, Governor Kim Moon-soo said, “We at the Gyeonggi Provincial office are putting the priority on the creation of jobs, but there is limit to what we can do to increase domestic investment due to regulations over investments in the greater Seoul area, which are associated with the concern over overpopulation and the anti-business sentiment. Thus, we are doing our best the attract FDI. Attracting investment is the most rewarding act that contributes to the local community.”

He added, “We have succeeded in attracting large-scale FDIs, such as those made by AvanStrate and NEG, thanks to the assistance of the advisors. Our cooperation with Woori Bank for unsecured loans, which have been greatly acclaimed by local SMEs, and the program for joint-ventures with promising SMEs are good examples of ideas that have been explored by the advisors. The Advisory Council should help us go a long way in our exploration of investors. I hope that they will set an example of local government-private sector cooperation.”

The newly selected members of the Advisory Council, which is being headed by former KOTRA Invest Korea Commissioner, Mr. Jeong Dong-su, said that they would do their best to get the best possible results in such sectors as hi-tech manufacturing, R&D, business services, theme parks, etc. where Gyeonggi Province has good competitiveness.

The newly selected 25 members of the Advisory Council will work for Gyeonggi Province for two years.

Commenting on the event, a Gyeonggi Province official said, “Efforts for investment attraction can get the best results when the local government and the private sector cooperate with each other. We at the provincial office will provide all of the support that is possible in order to help the advisors work as our collaborators.”