Gyeonggi
Province hosts 2016 Gyeonggi Province FTA Comprehensive Response Committee on
January 27 

◇ At 10:00am on January 27, Gyeonggi Province held the 2016 Gyeonggi
Province FTA Comprehensive Response Committee at its northern government complex
under Gyeonggi Province Administration Vice Governor Yang Bok-wan and
deliberated the 2016 FTA Comprehensive Response (draft) regarding the
investment of KRW 618.8 billion in 195 projects across nine sectors. ⓒ Gyeonggi G-News

With the onset of the mega-FTA era, headlined by the Korea-China FTA,
Trans-Pacific Partnership (TPP), and Regional Comprehensive Economic
Partnership (RCEP), Gyeonggi Province is planning to respond proactively
instead of preparing supplementary measures, as has been the case until now.  

At 10:00am on January 27, Gyeonggi Province held the 2016 Gyeonggi
Province FTA Comprehensive Response Committee at its northern government complex
under Gyeonggi Province Administrative Vice Governor Yang Bok-wan and
deliberated the 2016 FTA Comprehensive Response (draft) regarding the
investment of KRW 618.8 billion in 195 projects across nine sectors. 

Of particular note, Vice Governor Yang Bok-wan said, “Until now we have tended
to focus on supplementing and defending ourselves against the damage caused by FTAs.” Vice Governor Yang
emphasized, “There’s an old saying: offense is the best defense. As such, it’s time that we identify
what we can pursue aggressively and what are the best ways to achieve the best results.” 

This year’s comprehensive response to FTAs focused on reacting proactively to the
mega-FTA era from a provincial government standpoint. The response will also
divide the field into products and non-products in order to maximize the
utility of the FTAs and enhance the competitiveness of each industry. 

The products category will encompass five industries including
manufacturing, textiles, agriculture, fishing, and livestock. A total of KRW
521.5 billion will be invested in 180 projects; 32 projects, including those in
furniture exhibition, will receive support in the manufacturing industry, while
58 projects, including promotional activities for response strategies to FTAs,
will receive support. Support for the fishing industry will be extended to 23
projects including accident insurance for cultured fishery products, and
support for the livestock industry will include 58 projects including the
supply of superior breeding pigs.

The non-product category will be divided into four sectors including
culture/contents, investment attraction, intellectual property, and small
businesses. A total of KRW 97.3 billion will be invested in 15 projects. The
investments will be directed to four projects including the Gyeonggi Cultural
Creation Hub project for the culture/contents sector, and four projects
including the dispatch of delegations overseas to attract investment and
conduct promotional activities for the investment attraction sector. Moreover,
four projects to help create intellectual property within Gyeonggi Province for
the intellectual property sector and three projects to support startups for the
small business sector will receive investments.  

In order to enhance the competitiveness of businesses expected to benefit
from FTAs and to supplement those expected to be adversely affected, the
response features items such as: creating an FTA exclusive team; targeting
major strategic markets including India, Vietnam, and Iran; hosting discussions
for exporting businesses; and enhancing cooperative ties with regional
governments. In addition, the following items were included to respond
proactively to the Korea-China FTA: stimulate Korea-China cooperative and
exchange networks; expand Gyeonggi Business Centers (Guangzhou, Chongqing); expand
exports of high value-adding products.   

Contents on exclusive support for high value-adding service industries
including gaming, entertainment, and healthcare are expected to be included in
the response. In addition, strategic products that can add significant value
will be developed, various industries will be integrated to form a sixth
industry, and domestic restaurant and dining businesses will pursue overseas
expansion in order to improve the competitiveness of the agricultural, fishery,
and livestock industries. Support for design and marketing using the Gyeonggi
Province Open Platform will be available to businesses as a measure to address
FTAs. 

Vice Governor Yang Bok-wan said, “If we promote industries such as gaming, medicine,
and services in which we possess a comparative advantage and enhance competitiveness
in our outstanding agricultural and fisheries products, I believe we can
actively pursue the possibilities of entering emerging markets. If the committee
offers valuable opinions and advice, we will apply them to the administration
of our province.” 

Initially established under the Industrial Ordinance Following the
Implementation of FTAs in 2009, the Gyeonggi FTA Comprehensive Response
Committee is chaired by the Vice Governor and consists of 19 members from FTA-related
fields including public officials, provincial assembly members, members of academia,
private sector representatives, and members of various fields affected by FTAs.
Gyeonggi Province will incorporate the outcome of deliberations and finalize
its comprehensive response in February.  

Gyeonggi Province formulated the 2015 FTA Comprehensive Response last
year with a budget of KRW 573.5 billion for 161 projects. It achieved numerous results
including recognition as the Most Outstanding Phase for FTA Support Centers in
the Gyeonggi Region for four consecutive years.

ⓒ Gyeonggi G-News | Lee
Jun-kyun eyekle@hanmail.net

http://gnews.gg.go.kr/news/news_detail.asp?number=201601281531467055C052&s_code=C052