The Gyeonggi-do party that is in Japan, with provincial governor Hak-gyu Sohn, to induce foreign capital, has concluded an investment agreement of 20 million dollars with a LCD component manufacturing company called ALVAC at an investment conference on Feb. 16. 

According to the agreement, ALVAC will establish a factory with the capacity of 200 employers in the Hyeongok Complex in Pyeongtaek. 

The party also concluded an LOI (letter of intent) to invest 40 million dollars in the foreign rental zone in either Hyeongok or Poseung until 2005 with Japanese company H on the same day. 

The Gyeonggi-do party will continue its inducement activities, visiting Tokyo, Osaka and other major Japanese cities until Feb. 19. 

Source: Yonhap News Agency, February 16, 2004