Gyeonggi Province becomes ‘Internet Phone Mecca’

USD 50 million investment MOU signed with IP Phone supplier Moimstone in Canada

Gyeonggi Province and Canadian IP Phone supplier Moimstone Corporation signed an MOU for an investment of USD 50 million.

Gyeonggi Province Governor Kim Moon-soo visited the Moimstone head office in Vancouver on April 17^thand signed an MOU with Moimstone CEO Lee Chang-woo. This was the first success for the investment attraction team during their one-week mission to Canada and America, which started on April 17^th.

Moimstone started as a domestic IT small/medium-sized enterprise (SME) in 2003 and established an investment company in Canada. They are currently preparing manufacturing facilities in South Korea and in the process of developing a new investment model. This company is one of the leading suppliers of IP phone products; its customers include LG, SK and KT.

After the development of manufacturing facilities in Anyang City of Gyeonggi Province, Moimstone will export IP phones and related products to Japan and other countries. Through this investment, it is expected that Moimstone will directly hire 72 workers and provide indirect employment for an additional 389 by 2015. The company’s future global plans include entry into the cellular phone andt ablet PC markets in Japan and India. 

Gyeonggi Province Governor Kim Moon-soo said, “We are glad to hear that the technologies of a domestic IT SME are well recognized abroad and welcome the return of investment to our nation.” He also stressed that,”All public officials will help Moimstone to succeedin Gyeonggi Province.”

“We are going to do our utmost to become an exemplary global company and to help otherSouth Korean small and medium-sized enterprises,” said Moimstone CEO Lee Chang-woo.

Meanwhile Governor Kim (on that night) participated in a meeting with representatives of the Korean Society of British Columbia as well asoverseas Koreanand domestic delegates. Governor Kim said, “Fellow country men who travelfar from South Korea and work hard for our nation’s development are true patriots. We will always appreciate your hard work.”

Offered by Press Relations Division