[Governor Nam in Europe ②] Gyeonggi Province reaches joint venture agreement with Cosmos 
Cosmos and Hyundai Yachts to establish Hyundai and Cosmos Yachting… KRW 11 billion investment 

◇ On March 2, Gyeonggi Province Governor Nam Kyung-pil, Cosmos Yachting CEO Jordanis Hatziveroglou, Hyundai Yachts CEO Do Soon-ki, and Hwaseong City Deputy Mayor Lee Hwa-soon signed a joint investment agreement between Gyeonggi Province and Cosmos Yachting at ‘Divani Caravel’ in Athens, Greece. ⓒ Gyeonggi Provincial Government

Gyeonggi Province Governor Nam Kyung-pil successfully attracted an investment worth USD 10 million during his mission in Greece.

On March 2, Governor Nam signed a joint investment agreement between Gyeonggi Province and Cosmos Yachting of Greece at the Divani Caravel hotel in Athens, Greece. 

Cosmos Yachting CEO Jordanis Hatziveroglou, Cosmos Yachting Director Nikolaos Moysidis, Hyundai Yachts CEO Do Soon-ki, Hwaseong City Deputy Mayor Lee Hwa-soon also participated in the signing ceremony alongside Governor Nam. 

Based on this agreement, Cosmos Yachting will invest the equivalent of KRW 11 billion (USD 10 million) in Hyundai Yachts. Hyundai Yachts, in turn, will build a 13,075㎡ (3,900 pyeong) yachting base within the Jeongok Marine Industrial Complex in Hwaseong City. It plans on building as many as 100 luxury yachts worth a total of KRW 50 billion annually for delivery to Cosmos for their yacht-leasing business. 

Gyeonggi Province expects this investment to increase luxury yacht demand in Korea while also creating a foothold for the advancement of the domestic yachting industry into the Asian market

Considering that yachts are built with more than 10,000 components, Gyeonggi Province also looks forward to the long-term possibility of establishing a cluster for companies that produce components for yachts within Jeongok Marine Industrial Complex. 

Cosmos Yachting was established in Athens in 1987 and operates in 20 countries across Europe. With local subsidiaries in the United Kingdom, Germany, and Sweden, Cosmos is expanding the scope of its business to include not only the production and sale of yachts but also yacht leasing and marina operation. 

Hyundai Yachts was established as a business division of Hyundai Precision Industry in 1975. Set up as an independent company in 2008, Hyundai Yachts has a history that spans four decades. It is the largest yacht and boat manufacturer in Korea and has superior technology in the construction of yachts of medium size and larger. Hyundai Yachts also had the experience of building Gyeonggi Province’s administrative vessel ‘Gyeonggi Bada’, a 100ft luxury yacht-type vessel, for the first time in Korea.

◇ On March 2, Governor Nam Kyung-pil met with Productive Reconstruction, Environment and Energy Minister Lafazanis. ⓒ Gyeonggi Provincial Government

Prior to signing the investment agreement, Governor Nam met with Panagiotis Lafazanis, Minister of Productive Reconstruction, Environment and Energy, to discuss the Greek fiscal crisis and solutions, as well as means for enhancing cooperation and friendship between the two countries. 

The Ministry of Productive Reconstruction, Environment and Energy is the Greek government branch responsible for establishing and implementing government policies with regard to industry, the environment, and energy. Minister Lafazanis is regarded as second in line for the Syriza government. 

In response to Governor Nam’s inquiry about the possibility of Greece leaving the Eurozone, Minister Lafazanis replied: “The Greek government does not wish to leave the Eurozone.” He added, “We are considering how to practically resolve problems within the Eurozone.”

Opinions with regards to means of cooperation and friendship between Korea and Greece were also discussed at the meeting. 

Governor Nam noted, “Greece has recently been pushing forward the privatization of public corporations. If Korean companies can participate in the process, Korean interest in Greece will increase, and this will increase exchange between the two nations.” Governor Nam also proposed that: “(As a nation that took part in the Korean War,) Greece helped modern Korea exist. Now Greece has fallen into a crisis. I think it is time for us to help Greece.”

Minister Lafazanis replied: “Korea and Greece are allies forged through blood, and will continue to endure moving forward.”

Leading on, Governor Nam expressed his intent to invite Minister Lafazanis to Korea, and said that he desires other opportunities for Korea and Korean corporations to help Greece. 

◇ On March 2, Governor Kyung-pil Nam met with Korean War veterans after laying flowers at the Korean War monument in Papagos, Greece.

In addition, Governor Nam visited the Korean War monument in Papagos, Greece and offered a floral tribute. The Korean War monument commemorates 186 Greek soldiers who lost their lives in the Korean War. It was erected in 2003 by both the Korean and Greek governments. 

Korean War veteran Aloco Jean and Papagos Deputy Mayor Chrysa Parisi were present when Governor Nam laid flowers at the monument. 

After his floral tribute, Governor Nam said, “Korea gained freedom after the Korean War, and is now growing at a dazzling pace.” He added, “Korea is grateful for the sacrifice of all the Greek soldiers who helped Korea win its freedom, and I chose to offer flowers at this monument as the very first official item on my agenda in Athens.”

Governor Nam also visited a leading marina in Athens, Flisvos Marina, and a yacht marina in Heraklion on March 1, his first day in Athens, to benchmark Greece’s advanced marine industry and operational model. 

Flisvos Marina was built to provide superior facilities and services for yachts and mega-yachts. It offers the advantage of having an excellent commercial district nearby.  

Governor Nam said, “Although Jeongok Marina is small in size at the moment, its outlook is bright because demand from China and Korea is on the rise.” Governor Nam also said that he will incorporate the knowledge gained during this visit in the Gyeonggi Bay marina project that is being propelled by Gyeonggi Province. 

Gyeonggi Province is currently planning the construction of four marinas in Hwaseong and Ansan.

ⓒ Gyeonggi G-News | Kim Jin-kyoung jinkyoungkim@kg21.net  

http://gnews.gg.go.kr/news/news_detail.asp?number=201503030926447662C052&s_code=C052