Gyeonggi Province YESFEZ Holds Investment Briefing Session for 30 French Business Leaders

Createdd 2019-07-03 Hit 14

Contents

○ Investment briefing session held in conjunction with France-Korea Technical Cooperation Seminar
– Presentation by Fleur Pellerin, former French Minister of Small and Medium-sized Enterprises, Innovation and Digital Economy
– Promotion of French Tech programs
○ Introduction of Yellow Sea Free Economic Zone (YESFEZ) and its investment environment
– Special economic zone for international tech collaboration with plans for expansion to Siheung, Gimpo, and other areas
– Investment-inducement activities to be ramped up with completion of basic facilities (waterworks, electricity, etc.) in this October
※ Lot prices: KRW 1.67 million won per 3.3㎡ (industrial lots, 30% lower than market price), KRW 1.72 million per 3.3㎡ (logistics lots)

During the Korea-France Technical Cooperation Seminar that took place on July 3 at the Seoul Dragon City Hotel, Gyeonggi Province’s YESFEZ held an investment briefing session for French companies that have entered the Korean market.

This event was attended by 90 French political and business leaders, including: Fabien Penone, the French Ambassador to Korea; Fleur Pellerin, former French Minister of Small and Medium-sized Enterprises, Innovation and Digital Economy; Kim Kyung-rog, CEO of Schneider Electric Korea (a smart factory); Patrick Defranoux, CEO of Thales Korea (a defense company); and Stéphane Ferreira, CEO of Arkema Korea.

A presentation on current technical collaboration between France and Korea and directions to pursue for greater cooperation took place first, followed by a briefing session on the investment environment of YESFEZ, an economic zone geared to facilitate international technical cooperation.

YESFEZ Commissioner Hwang Seong-tae revealed his vision for the future of YESFEZ in his opening address, saying, “Approximately 20 years ago, Gyeonggi Province formed the Pangyo Techno Valley where approximately 1,300 IT and BT companies generate approximately KRW 79 trillion in sales every year. I hope that YESFEZ, as a special economic zone for international technical cooperation, will become another successful model through the creation of a future auto industrial cluster spanning Pyeongtaek, Siheung, and Gimpo.”

YESFEZ started the phased sale of 778,663㎡ of industrial lots and 556,174㎡ of logistics lots in the Pyeongtaek Business & Industry Complex (BIX). The industrial lots are being sold for KRW 1.67 million per 3.3㎡, which is 30% lower than market prices. The logistics lots are being sold for KRW 1.72 million per 3.3㎡.

Of particular note, the Pyeongtaek BIX has 269,456㎡ of chemical industry lots, the only remaining lots of that type for foreign-invested companies in the capital region. Pyeongtaek Port, nearby YESFEZ, is the international port in Korea through which the most automobiles have been exported for seven consecutive years and through which 98% of foreign vehicles are imported.