On November 29th and 30th, during 20th celebrations of the Gyeonggi-Kanagawa sisterhood relationship, a provincial delegation in Japan signed agreements with three high-tech firms and reaffirmed that ‘Gyeonggi Province is an ideal place to invest.

Gyeonggi Province Governor Kim Moon-Soo poses for pictures with Asahi Kasei E-Materials CEO Gonoseu Makoto, Gyeonggi Province Council Member Sin Hyeon-Seok and others during the MOU signing ceremony bewteen Gyeonggi Province and Asahi Kasei at the headquarters of Asahi Kasei E-Materials in Tokyo, Japan, on November 29th. © G News Plus

The Gyeonggi delegation led by Governor Kim Moon-Soo secured investment totalling USD 34.5 million from three high-tech Japanese companies.

This came as the result of strategic activities to attract investment from Japan during a two-day event on November 29th and 30th and corresponds with the current trend of increasing Japanese investment in large Korean companies such as Samsung, LG, and others. 

As a result of these investment attraction activities, Gyeonggi Province signed investment deals worth a total of USD 34.5 million with three high-tech Japanese companies: Asahi Kasei E-Materials, TDK Co., and Sanritsu Corporation, which manufacture separator films for secondary batteries, polarizing film for TFT-LCD devices, EM shielding, and EM wave absorbers.

Accordingly, unique Japanese technology will be produced in Korea and is expected to contribute greatly to the local economy through, for instance, the introduction of advanced techniques and the creation of quality employment.

Asahi Kasei E-Materials Co., which signed a Memorandum of Understanding (MOU) to the value of USD 10 million, is a major affiliate of Asahi Kasei Co., a world-famous chemical firm, and responsible for their electrical and electronic business sectors. Asahi Kasei E-Materials Co. will establish processing facilities for secondary battery separator films on a site of 14,222 sqaure meters in a leasing complex dedicated to foreign-invested operations, and full-scale production is planned to commence from the second half of 2011 through the Korean division.

Secondary battery separator film is a core technology in the manufacture of batteries for cell phones, laptops, and electric automobiles, and Asahi Kasei E-Materials Co. is the world leader in this field with a 40% global market share. This investment enables the stable supply of batteries for the latest domestic electronic devices, a variety of product launches, and strategic development of production volume.

TDK Co., which signed an MOU to the value of USD 13.5 million for the establishment of a ferrite core factory, specializes in thin film filters for displays, semiconductor devices, and radio dark room electronic components. Ferrite cores are used in various electronic devices and enable electrical and electronic devices to operate efficiently. They are used in the latest high-performance information and communication equipment as well as next-generation cars, and more.

This increased investment is expected to bring a synergy effect to both TDK Co. and Gyeonggi Province – where many companies related to communication devices, automobiles, and the LCD TV businesses on which TDK focuses are located – and therefore contribute to the development of related domestic industries in Korea.

Sanritsu , which specializes in the manufacture, research and development of plastic polarizing film for liquid crystal displays, signed an MOU to the value of USD 11 million to support increased investment in the Eoyeon-Hansan foreign-exclusive industrial complex in Pyeongtaek City. This is expected to create more than 100 jobs.

In the TFT-LCD field (in which Sanritsu is investing), Korean manufacturing companies account for more than 52% of the world market. A major investment is planned and so rapid future growth is expected. 
Of particular note, Sanritsu entered the Korean market operating under the brand name of ‘Yuchang Optical’ via the Eoyeon-Hansan industrial complex in Gyeonggi Province in 2002. As an exemplary model of a foreign-invested company, they have invested USD 12 million and created 200 new jobs to date.
Recent investment by Japanese companies proves that Gyeonggi Province is an ideal place for Japanese companies. Enhanced cooperation is expected to create a mutually beneficial situation for Korean and Japanese companies.

Gyeonggi Province Governor Kim Moon-Soo speaks on the occasion of the 20th Anniversary of Kanagawa-Gyeonggi sisterhood relations on November 29th at the Royal Hotel in Yokohama, Kanagawa. © G News Plus

A delegation from Gyeonggi Province visited the province’s sister region, Kanagawa Prefecture, and participated in 20th anniversary celebrations as well as investment promotion activities.

Gyeonggi Province and Kanagawa Prefecture established sisterhood relations in April of 1990 and have maintained cooperation and exchange in various fields including economic, cultural, academic, and athletic areas.

This visit was undertaken with the intention of continuing to develop future cooperative relations between both local governments based on the friendship and spirit of cooperation formed over 20 years. It followed the event ‘Korea Yard’ held in Kanagawa Prefecture last October as well as celebrations of the 20th anniversary sisterhood relations.

In addition, Governor Kim visited the Kanagawa Prefectural College of Health and Welfare and, as part of the events planned for the 20th anniversary of sisterhood relations, delivered a special lecture on implementing citizen-centric welfare policy through the Muhandolbom Project.

This visit by the Gyeonggi delegation was made despite tension surrounding the security situation on the Korean Peninsula due to North Korea’s bombardment of Yeonpyeong Island. The signing of the MOUs reaffirms that Gyeonggi Province is an ideal place for Japanese companies to invest while contributing momentum to the development of the friendship and cooperative relationship Gyeonggi Province shares with Kanagawa Prefecture.

© G News Plus News | Jin Jae-Min 

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