During a recent mission to Taiwan, Hong Kong and Japan, a Gyeonggi Province delegation succeeded in attracting investment (confidential amount) from a leading Taiwanese robotics company, “Company A.” The company also agreed to hire over 300 employees.

Gyeonggi Province Vice Governor Kim Jin-heung lead the delegation on a visit to Company A in central Taiwan at 10 A.M. (CST) on November 14 to sign a memorandum of understanding (MOU) regarding the above-mentioned information.

Company A is renowned as a high-tech company that possesses vital technological capabilities for the Fourth Industrial Revolution, such as manufacturing techniques for key components in terms of factory automation, robots, and automated machinery, as well as construction techniques for smart factories and more.

Through this MOU, Company A agreed to establish a manufacturing and R&D facility in Gyeonggi Province’s Hwaseong City. This will benefit small businesses within the province as it entails easier access to precision parts and a reduction in production costs.

In addition, positive outcomes are also expected in terms of employment opportunities, a key area of interest to Gyeonggi Province and the Korean central government.

During negotiations, Company A agreed to provide job opportunities through more than 300 permanent positions, as well as to prioritize the hiring of graduates from the province’s specialized vocational high schools. This MOU is the province’s largest employment agreement among all foreign investment agreements made with manufacturing companies in the past 2 years.

To this end, out of over 100 specialized vocational high schools, the province selected two schools that provide the most relevant industry training and invited them to participate in this MOU.

Company A’s CEO stated, “I hope that this agreement will be a good example of an ideal match between a company and jobs, and that we will successfully lead this project by working closely with the province’s specialized vocational high schools so as to hire their most outstanding graduates in a timely manner.”

Vice Governor Kim Jin-heung said that he is “greatly thankful to Company A for the mass job creation,” promising that “Gyeonggi will gladly provide human resources and administrative support so that Company A can successfully carry out its project in the province.”

Meanwhile, the Gyeonggi Province delegation signed an economic cooperation MOU with the Hong Kong Trade Development Council (HKTDC) on November 13, prior to its visit to Taiwan. After Taiwan, the delegation continued investment promotion efforts in Japan on November 15 and 16.