Governor Kim Moon-soo visits US to attract investments

A delegation of Gyeonggi Province headed by Governor Kim Moon-soo is visiting the United States for six days from September 25.

The delegation expects to attract a total of USD 119 million worth of investment cases (1 LOI, 3 agreements) in Atlanta, Los Angeles, and San Diego, which will create about 320 new jobs.

The establishment of a new factory in the Hyeongok Industrial Complex as a joint venture between KITE  and KCC Transport Systems are expected to enable domestic production and warranty service of air cargo containers; this in turn will reduce logistics/repair expense and operation/repair time drastically. 

The decision made by Air Products for additional investment in its facility in Gyeonggi Province will contribute greatly to the growth of the country’s semiconductor industry. The US business identified only as “A,” which will sign an LOI with Mr. Kim Moon-soo, will build a factory for advanced auto parts to be supplied to Hyundai Motor and Kia Motors.

On September 25, the delegation will pay a visit to the Kia factory in Georgia and check how the factory had an impact on the local economy. The following day, the delegation is scheduled to visit You Tube Space, a film production facility of Google, to propose that the company build a facility in Gyeonggi Province.

On September 27, the delegation will attend an event showcasing the agricultural products of the province, to be held at H Mart in San Diego.

The delegation will also carry out the following activities during their stay in the United States: participating in the opening ceremony of the Korean Festival in Los Angeles, where Gyeonggi Province has a liaison office, and paying a courtesy visit to Los Angeles Mayor Eric Garcetti on September 26; presenting a plaque of gratitude to the four members of the Council of Glendale City, California for their assistance in the erection of a comfort woman statue on September 27, and; expressing gratitude to the 1st Marine Division at the ceremony commemorating the 63rd anniversary of Incheon Landing on September 28.

Commenting on the delegation’s visit to the United States, Mr. Hwang Seong-tae, a provincial official in charge of economy and investment, said they will sign an LOI and three MOUs on a tight schedule of six days including flight time. “It’s a good thing an MOU was signed between KCC Transport Systems and KITE, which will enhance the country’s status in the market amid the rapid increase in demand for air cargo containers. The attraction of investment of Air Products – which accounts for a quarter of industrial gas supply all over the world – in the province will also enhance the competitiveness of domestic semiconductor businesses,” he added.