○ Gyeonggi Province Delegation, Headed by Assistant Governor for Labor and Economy Park Shin-whoan, Visits Spain, the United Kingdom, and Germany from February 26 to March 6.

– Celebrating the 20th Anniversary of Gyeonggi-Catalonia Sisterhood Relations: Renewing Exchanges and Discussing Expansion to Economic and Tourism Sectors

– Investment Promotion with GDS, a British LED Manufacturer

– Visiting Germany to Benchmark “Local Currency” and Smart Factories

The delegation of Gyeonggi Province, headed by Assistant Governor for Labor and Economy Park Shin-whoan, is visiting Spain, the United Kingdom, and Germany on a nine-day-and-seven-night mission from February 26 to March 6.

Gyeonggi Province announced that the purpose of these visits is to strengthen economic cooperation by, among others, attracting investments from European companies to vitalize the local economy. In addition, the delegation will study European best practices in relation to major policies that the province is currently pursuing, such as the introduction of a “local currency,” the Gyeonggi Youth Dividend, and the development of a Gyeonggi-style Smart Factory model.

On February 27, the Gyeonggi Province delegation will meet Alfred Bosch, the Minister of Foreign Action, Institutional Relations and Transparency of Catalonia, at the Palau de la Generalitat de Catalunya in Barcelona, to discuss plans to promote cooperation between the two regions.

Gyeonggi Province and Catalonia established their sisterhood relationship in March 1999, but since 2004, their active exchanges were put on standby due to political circumstances in Spain. This year, Gyeonggi Province plans to reopen exchanges with Catalonia and expand cooperation in the fields of economy and start-ups, culture, and tourism in commemoration of the 20^th anniversary of their sisterhood relationship. Of particular note, the two regions will discuss the possible co-participation in MWC Barcelona and 4YFN (4 Years From Now), events held in Catalonia, and in G-FAIR KOREA and Pangyo Autonomous Motor Show, events held in Gyeonggi Province, as well as the possible entry of Gyeonggi Province companies into the Spanish market.

Held every year in Catalonia by GSMA, MWC Barcelona is the largest mobile communication technology fair in the world. 4YFN, one of the events organized by MWC Barcelona, will welcome over 600 start-ups from 45 countries this year.

On March 1, the delegation will meet Richard Cuthbert, CEO of Global Design Solutions (GDS), at DIT South West’s headquarters in Bristol to conclude an investment agreement. GDS is a promising British SME that has installed its high-end lighting system in more than 700 theaters and opera houses, including The SSE Arena, Wembley in London, and the Opéra Bastille in Paris. With this agreement, GDS will pursue investment in Suwon City, Gyeonggi Province.

The Gyeonggi delegation will also visit the Chiemgauer association on March 4 to study its introduction of a “local currency”. Since 2003, the Chiemgau region of Bavaria, Germany, has been using its own local currency called the “Chiemgauer.” The delegation will also visit the headquarters of the automation division of Siemens in order to facilitate development of a Gyeonggi-style Smart Factory model.

Assistant Governor for Labor and Economy Park Shin-whoan stated, “We hope to create quality jobs by expanding the reach of our exchanges with Catalonia and promoting investment from a promising British company.” He added, “We will strengthen our foundations for more effective and favorable cooperation with major regions in Europe to enable the entry of Gyeonggi Province companies into the European market and to attract foreign direct investment.”