Gyeonggi Province has recorded the largest amount of registered foreign direct investment (FDI) of any region in Korea with the exception of Seoul.

Most notably, the amount of registered FDI in Gyeonggi Province under the 4th popularly elected government has reached USD 5.2 billion, which is 16.4% of the total FDI of the country (USD 31.8 billion). This amount is 36% of the registered FDI amount for any region in Korea other than Seoul, which holds many financial organizations and headquarters of large enterprises (54%), proving that Gyeonggi Province has been the largest FDI attractor in the nation.

In addition, 54 of the 65 businesses that exchanged MOUs for FDI during the period, or 84%, were already implementing the FDI plans including groundbreaking, operation and preparation for occupancy, proving the qualitative excellence of the Province’s FDI. 

Shinsegae Chelsea, which entered into an MOU worth KRW 100 billion, will hold a groundbreaking ceremony in Paju on November 27, 2009, and the Universal Studios project in Songsan, Hwaseong City, will sign an agreement between public organizations and PFV consortiums at the end of November, 2009.

Experts agree that the successful FDI achievements of Gyeonggi Province can be attributed to the work of the advisory committee for FDI attraction, which included executives from large corporations and experts in investments and trade, and the maintenance of a permanent advisory system and information sharing in FDI attraction.

In particular, the Province pursued joint efforts to attract FDI and select target businesses through close information exchanges with large corporations, selecting potential investors and undertaking customized FDI attraction activities through the matchmaking of domestic and foreign businesses and targeted attraction by industry type.

The Province plans to improve the investment environment in order to attract new investors, while expanding the investments of existing investors through continuous post-management efforts.