Greetings, everyone, and thank you for joining us for this week’s edition of GTV.
I’m Don Valiant and this is the news from Gyeonggi Province this week.

Article 1.Gyeonggi Delegation Visits Italy and Greece (0309-1)

[Anchor’s Headline]
On March 7, a Gyeonggi Province delegation led by Governor Nam Kyung-pil(남경필) returned from a 7-day mission to Greece and Italy. Our reporter examined the outcomes.

[Report]
During itsmission, the delegation met with industrial leaders to discuss economic issues and secure a number of investments.

▶USD 10 Million Investment Secured from Greek Yacht Manufacturer

▶Big Step Forward in Marine Industrial Development
In Greece, the Gyeonggi delegation secured an investment of USD 10 millionfrom Cosmos Yachting, a multinational yacht manufacturer. Cosmos will invest this amount in Hyundai (현대) Yachts for the construction of a new plant on asite of 13,000 square meters in the Jeongok (전곡) Marine Industrial Complex of Hwaseong (화성) City

▶Gyeonggi Province Governor Nam Kyung-pil
“This investment will not only help the local economy and job creation, but it will also transform the region into a yacht industrial hub in Asia.”
When Governor Nam visited the large Flisvos (필리스보스) Marina in Athens, he was so impressed by its facilities and operations that he expressed his intention to benchmark it for the Gyeonggi Bay Marina Development Project.

▶Visit to Bologna for Talks in Social Economy Promotion
The delegation went on to visit Bologna in Italy and met with scholars to discuss issues related to social economy promotion.

▶Gyeonggi Province Governor Nam Kyung-pil
“We learned much about how to create job opportunities for youths and retirees through social economy promotion.”

▶Investment of USD 5 Million Induced from Italian Enterprise
During the visit to Italy, the delegation was also able to secure an agreement for an investment of USD 5 million from an Italian enterprise.

 
Article 2.Green Campus Movement Active in Gyeonggi Universities (0309-2)

[Anchor’s Headline]
Gyeonggi Province has been promoting the participation of academia in energy and environmental conservation. Known as the Green Campus Movement, this project is receiving positive responses from universities in the province.

[Report]

▶Myongji University, Yongin
This building on a university campus in Yongin (용인) City has windows in the ceiling that allow sunlight to enter.

▶Natural Illumination and Solar-power Generation Systems
The interior is sufficiently bright to eliminate the need for artificial lighting during the day. This building is also equipped with a solar-power generation system.

▶Rainwater Recycled for Toilet Water
The toilets in this building use recycled rainwater that is stored in the basement.

▶Real-time Energy Usage Displays
The electric displays installed in a number of locations in the building indicate electricity usage on the campus in real time

▶Kim Tae-woo / Undergraduate Student, Architecture Major, Myongji University
“These (energy-saving) facilities inspire me to save energy and turn off the lights whenever I leave a lecture room.”
Since participating in the Green Campus Movement, this university has been able to reduce energy consumption by more than 15 percent

▶Park Doo-hong / Planning and Budget Team Manager, Myongji University
“The most important change was the transformed mindset of the people involved. Glass cups are used instead of disposable paper cups, and computers are turned off during break times.”

▶48 Universities in Gyeonggi Province Participate in Green Campus Movement
More than 60 percent of the universities in Gyeonggi Province are now actively participating in the Green Campus Movement that began in 2010.

▶Gyeonggi Province Social Integration Vice Governor Lee Gi-woo
“The objective is to create environment-friendly campuses. The most encouraging fact is that universities and students are actively involved in this campaign.”
Gyeonggi Province plans to establish an integrated monitoring system so as to promote participation in energy-saving activities by all university campuses in the province.
 
Article 3.Common Office for Aspiring Entrepreneurs Opens(0310)

[Anchor’s Headline]
Gyeonggi Province opened a common workplace, the G-Base Camp, complete with business start-up support facilities and services for aspiring entrepreneurs. Our reporter examined the details

[Report]

▶G-Base Camp of Gyeonggi Province
In the G-Base Camp, young aspiring business people interact freely with each other. Some discuss common issues in a café-like office,while others work together on ideas, and yet others are deeply immersed in their own individual work. These youths work or have breaksper their own schedules

▶Yang Jun-mo / B-Base Camp User
“There is no set schedule here; we even decide our own break times. The free atmosphere allows me to work more effectively than when I am stuck doing hard work on my own.”

▶Advanced Institute of Convergence Technology (March 9)
G-Base Camp Opening Ceremony
The G-Base Camp is located in the Advanced Institute of Convergence Technology of Gyeonggi Province.

▶Mentoring Service for Business Start-up
In addition to free work spaces, this camp facility provides a mentoring service for business startups.

▶Monthly Product Review
Monthly product reviews provide resident youths with opportunities to introduce products they have developed.

▶5 Universities Agree to Provide Support
This facility is also supported by universities. At the opening ceremony, representatives of five universities signed an agreement for support provision.

▶Gyeonggi Province Governor Nam Kyung-pil
“If you have a dream and motivation, come to Gyeonggi Province. We will support you. We will guide you along the road to opening a good business.”
The G-Base Camp is open to anyone on an application basis. It provides open spaces for informal communication among users as well as individual offices for those who are preparing to open new businesses.
 
Article 4.Gyeonggi Begins Residential Water Pipe Renovation(0312-2)

[Anchor’s Headline]
Gyeonggi Province began regional inspection of residential water pipe systems as a prelude to the implementation of the Water Pipe Renovation Support Project. This project will also include a resident awareness campaign.

[Report]
The water is tinted red and even containspipe rust when it emerges from clogged and aged pipes.Households with aged pipes have no choice but to use contaminated water. The purpose of the Water Pipe Renovation Project of Gyeonggi Province is to provide support to such households for the replacement of aged pipes.

[CG]Provincial support will be provided for 30 to 80 percent of the plumbing costs, up to KRW 1.5 million,depending on the floor area of the household.

▶Anyang City Hall (March 11)
Public Presentation on Water Pipe Renovation Project
In order to promote applications by residents, Gyeonggi Province began publicizing the project, which includes guidin
g multi-family building residents on agreement formation among the resident families.

▶Household-level Work Begins on Application by Resident
Household-level preliminary inspection and pipe replacement work will begin upon application by residents.

▶Han Bae-su / Director, Gyeonggi Province Water Resource Headquarters
“Many residents have safety issues with tap water. By publicizing the project through local presentations, we expect to receive a large number of applications from such residents”

▶200,000 Households Targeted for Water Pipe Replacement by 2018
Gyeonggi Provincewill spend KRW 5.2 billion this year to provide water pipe replacement support to 30,000 households,and plans to complete work for 200,000 households by 2018.
 
Article 5.Gyeonggi Discloses Innovative Budget Planning Procedures(0903-3)

[Anchor’s Headline]
Gyeonggi Province announced innovative budget planning procedures designed to establish the annual provincial budget in a democratic manner. This procedural change is part of the coalition policy that Governor Nam Kyung-pil declared at the beginning of his term in office.

[Report]

▶Innovative Budget Planning Procedures: August until April
Budget Planning Begins in April Instead of August
Budget planning will begin in April instead of August, four months earlier than the budget planning period of previous years, so as to accommodate additional procedures for participation by the provincial assembly and residents and to create a more effective budget.

[CG]Although the budget planning right resides solely in the provincial administration, these new procedures are now shared by the legislature and provincial residents.

▶Financial Strategy Committee
6 Provincial Assembly Members, 6 Administration Representatives and 4 Specialists
The core of the coalition in budget planning will be the Financial Strategic Committee, which consists of six provincial assembly members, six administration representatives and four specialists. Financial project assessments will also be carried out to improve the efficiency of the budget by screening the projects. Of 1,800 financial projects of the province, 600 will be reviewed by commissioned specialists.

▶Oh Tae-seok / Gyeonggi Province Budget Coordination Team Official
“We expect to be able to create a healthier budget through communication with assembly members and residents. Underhanded practices such as informal requests for regional favors will be largely eliminated.”
Starting from a regional administration budget meeting on March 17,Gyeonggi Province has already begun to organize meetings with residents and college students. 
Article 6.Simulation Programs for Disaster Safety Education(0310-2)

[Anchor’s Headline]
Gyeonggi Province has been sponsoring the development of simulation programs for disaster safety education. Some of these programs that simulate diverse disaster situations are already being used.

[Report]
Following verbal and visual instructions generated through the 3D headset she is wearing, Yuguidesa rescuer through the passages of a building and locates and rescues a citizen before searching for the origin of the fire.

▶Yu Ji-yeong / Homaesil-dong, Suwon
“Most of us don’t get to experience being at an accident site, do we?I think it will help us a lot to experience (such situations) in virtual reality…”

▶Disaster Simulation Programs Developed for Safety Education
This simulation system helps children and adults improve their ability to respond safely to disaster situations created in virtual reality. It was originally developed for the training of firefighters and is now used for the education of residents. The program used in this system simulates fires and explosions at fifteen actual locations in Gyeonggi Province including a hospital, a market and a cinema.

▶Han Seon / Chief Official, Gyeonggi Province Safety Culture Team
“The purpose (of simulation program development) is to teach how to evacuate from or respond to major safety events at schools, buildings or homes.”
Diverse programs will be developed tocater to the needs of different age groups and disaster types including fires, earthquakes, elevator accidents, and other emergencies.

▶Disaster Simulation Selected as Creativity Vitamin Project by Korean Government
Also selected as a Creativity Vitamin Project by the Korean government, the Disaster Simulation Program Development Project of Gyeonggi Province will later be made available to the public in a downloadable format.
 
Article 7.Housing Transactions in Gyeonggi Province Peaked in February(0312-3)

[Anchor’s Headline]
The number of housing transactions in Gyeonggi Province marked an almost record high in February. Excessive deposit-based lease prices are driving home hunters to purchase homes.

[Report]

▶Apartments, Sanbon-dong, Gunpo

[CG Overlap]This 86-square-meter apartment in Gunpo (군포) City is priced at KRW 390 million, or KRW 280 million for a deposit-based lease. For a 145-square-meter apartment, the selling price is KRW 510 million while the deposit-based lease price is KRW 400 million.
With deposit-based lease prices amounting to almost 80% of selling prices, more people are choosing to buy rather tha
n lease.

▶Hwang Jae-hun / Real Estate Agent
“People who look for homes to lease are usually amazed bythe high lease prices. More people are now changing their minds about purchasing homes because they can own them by paying a little more.”

▶Housing Transactions in February Second Highest in Records
The number of housing transactions in Gyeonggi Provincein February increased by 3.8 percent compared to the previous month, marking the second highest level in history. Housing transactions have been declining since 2011. However, the soaring prices of deposit-based leases and the Korean government’s interest rate reduction made house-buying more affordable for home hunters. Housing transactions began to shift to an increasing trend last year, since the narrowing difference between purchase and lease prices can now be easily financed with a cheap loan.

▶Housing Price Increase Rate Highest in Gyeonggi Province
This trend is even more remarkable considering the fact that housing prices increased fastest in Gyeonggi Province. According to experts, this is due to heightened expectations for real estate price increases stemming from various development projects.

▶Kim Tae-gyeong / Researcher, Gyeonggi Development Institute
“When housing prices were stagnant, demand for deposit-based leases increased because buying a house had no merit. However, the shortage of leased housing and the recent real estate policies of government have changed the situation and led to housing transaction increases.”
Transactions not only increased for apartments but also for detached houses and multi-family housing units. Experts view the current trend positively since it was driven by the end users instead of by indirect factors.

Thank you for joining us for this week’s edition of GTV.
We look forward to seeing you again next week.