Gyeonggi province, in a bid to attract state of the art industries such as semiconductor, automobile, and precision machinery, which have been the major industries of the province, will increase its effort to promote investments from Japan that it has been working on. There will also be a strategic investment promotion campaign from November 3^rd to 7^th to secure suppliers in China and in other related countries (Taiwan, Hong Kong, etc.) whose scientific and technological capabilities have recently improved significantly. The campaign aims to add the countries to its part supplier network list, in addition to Japan, to supplement the province’s current supply capacity. It will do so by dispatching a task force to multiple countries.

China’s technological advancement still doesn’t put it on par with Japan, but partnering with Chinese companies that have growth potential and a solid foundation will stabilize manufacturers in Gyeonggi province by enabling multiple supplier networks in the area. The province is also looking into attracting funds from China into Korea to fuel its development of local technology powerhouses.

The team will first go to China to meet with their Innovation and Science Technology Associationto check on their status quo of science and technology investment. It will also check on investments from non-Chinese companies. They will then visit the China Association of Automobile Manufacturers, where they will discuss the feasibility of establishing a supply chain with Korean car part manufacturers. Lastly, at the 3 New Pharmaceutical Manufacturer Incubator Complexes, there will be a discussion on bio-industry strategies and investment prospects in Korea.

Their schedule in the second country of Singapore will start with meetings with the Chinese-Overseas Company Association to find local hidden champions. The task force will also promote Gyeonggi province as a great investment target for Chinese capital in Singapore, and then they will have a meeting with the Singapore SMB Association. Their stay in Singapore includes a presenting a briefing on the investment conditions to local companies (companies known as A and M) that have shown an interest in making development investments. What the task force brings back to the province will serve as the basis for the future investment promotion plans of Gyeonggi province.

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