Chang-Sup Chung, Vice Administrative Governor of Gyeonggi Province, who is currently visiting Northern Europe to promote economic and technological interchange and cooperation under the motto of “Gyeonggi Province toward the World,” signed an actual Gyeonggi-Vastmanland Economic Cooperation Agreement with Haken Eriksson, Vice Governor of Vastmanland, in Vasteras, the capital of Vastmanland on Oct. 24 (Oct. 24 at 6:00 p.m., Korean local time). 

The Agreement for Technological Cooperation Enhancement and Business Development entered into between Gyeonggi and Vastmanland promotes mutual enhancement of technological cooperation between bilateral areas and pursues the tasks for the business development summarized as follows: 
First, implementation of visit/exchange programs 
Second, pursuing and developing cooperation and interchanges in the knowledge-based fields 
Third, pursing and developing interchange opportunities as well as collaboration in business incubating/startup fields 
Fourth, hosting promotional events, seminars and symposiums to promote those projects/businesses mentioned above 

The Agreement is an economic cooperation agreement in name and reality, following the MOU for economic cooperation forged between Gyeonggi and Vastmanland in 1999. 

The Agreement will be an opportunity to prepare for amicable foundation to create a win-win synergy effect by materializing broader and actual economic and technological interchange and cooperation between the two countries. Prior to the Agreement, an occasion was created through a successful BI project by Gyeonggi’s sending a BI manager trainee delegation to Sweden. 

In this manner, Gyeonggi Province expects to make a turning point to develop and promote backbone businesses within the province by establishing close partnership with Northern Europe, which is the central part of EU economy, and benchmarking leading European technologies. All this will be carried out through recommendation of European partner firms to the firms in Gyeonggi Province for international growth, support for firms’ activities and network consolidation between cutting edge industries with huge growth potential.