Gyeonggi Province hosted a presentation on the parts purchase policies of major corporations, which was made jointly with the Gyeonggi Association of Foreign Invested Companies (GAFIC), at Ibis Ambassador Hotel Suwon on February 26, 2009. The presentation aimed to provide information that would help foreign-invested businesses to stabilize their operations.

The presentation was attended by more than 80 CEO-level executives from five major Korean corporations, including Samsung Electronics and LG Display, as well as from 55 foreign-invested firms, including Telstar-Hommel Corporation. Officials from major corporations specialized in the three sectors of semiconductors, LCD, and automobiles elaborated on their corporate policies relating to parts purchases for this year, and shared their opinions during the presentation.

Director Hee-Gyeom Kim of Gyeonggi Province¡？s Economic Investment Division said, ¡°It is time for us to make efforts to overcome this global economic crisis, as it has dampened foreign investment and caused operating difficulties for the foreign invested firms already operating in Gyeonggi Province. Gyeonggi Province will do its utmost to provide back-up support and continuous assistance to help the foreign-invested businesses to recover their management situations.¡±

Chairman Byung-Hoon Lim of GAFIC, the co-organizer of the presentation, said, ¡°We need to fully realize the urgency of the current situation, share the pain, and create opportunities to seek understanding and cooperation. This sense of urgency is what led us to host this year¡？s presentation earlier than last year¡？s, with the aim of enabling foreign-invested firms to easily establish business plans for the year based on information about the purchase policies of major corporations.¡±