□ On January 20, Gyeonggi Urban Innovation Corporation (GICO: President Lee Jae-young) made an announcement regarding its endeavors in a project related to the Godeok Industrial Complex, which is expected to become the largest business establishment of Samsung Electronics, and the development of a “Gyeonggi-do Housing Welfare Model” by supplying various rental dwellings and providing housing welfare services.  

 

 o GICO plans to improve its financial soundness by reinforcing its marketing function through the establishment of a customer management office and to create future growth engines in 2013 through a discovery of various new businesses.  

 

 

 

 

□ Gyeonggi Urban Innovation Corporation (GICO) has confirmed its plans to invest 2,117,200,000,000 won in projects implemented in 36 zones in 2013, and to award contracts related to construction, goods and services valued at 1.8 trillion won in total. This massive execution of budget is expected to stimulate the local economy and create new jobs. 

 

 o The scale of investment in the major projects are as follows: 70.9 billion won in compensation and commencing construction of Godeok Industrial Complex; 822.2 billion won in compensation and construction of Jigeum Bogeumjari Housing Zone; 156.5 billion won in the development of Dongtan 2 New Town site and compensation for residual lands; 499.7 billion won in the 3rd phase construction of Gwanggyo and compensation for residual lands; and 189.1 billion won in commencing the construction of logistics and other industrial complexes. 

 

 o GICO also plans to award contracts construction, goods and services valued at 1.8 trillion won in total. It expects to contribute to job creation through the implementation of these plans, and will continue its efforts to support small and medium businesses. 

 

 

 o Gyeonggi Urban Innovation Corporation (GICO) newly established a Customer Management Office this year to reinforce its marketing by integrating the sales function, which had previously been diffused across each of the departments. The objective was to create an efficient and systematic system of various marketing processes from establishment of strategies to follow-up management to improve the financial soundness of the corporation. 

 

 o GICO also plans to designate ´energy and environmental facilities,´ ´advancement of housing projects´ and ´specialized asset management´ as its strategic businesses for future growth and discover a wide range of new businesses in each of these fields. The aim of discovering new future growth engines and diversifying its businesses is to maximize GICO´s capacity to handle crises in this era of rapid and dramatic changes. 

 

 

 

 

□ Gyeonggi Urban Innovation Corporation (GICO) plans to continue its effort in strengthening the housing welfare services by actively responding to the housing policy demand of the new government administration and Gyeonggi Province, executing its existing 200-unit housing purchase and rental project in addition to the 150-unit reconstruction housing purchase and rental project and 500-unit housing lease and rental project, and developing a sustainable ´Gyeonggi Housing Welfare Model.´

 

 o GICO will also build the ´Chamareum Hope Village Center,´ an integrated welfare facility housing a health clinic, social corporate academy and book cafe inside the Anseong Gongdo Public Rental Housing Complex. The center will be a 3-story building with a total floor area of  676㎡. It will provide welfare services related to medical care, employment and leisure activities, and be involved in social contribution activities. 

 

 

 

 

□ According to the 2013 Investment Plan, 73% of the total budget is concentrated on the 4 key projects: Godeok Industrial Complex, Namyangju Bogeumjari Housing, Dongtan 2 New Town and Gwanggyo New Town. 

 

 o Of particular note, the total project cost for the Godeok Industrial Complex, which will be about 2.4 times the size of the current business establishment of Samsung Electronics in Suwon, is 2.2 trillion won and the construction will commence this April. Connecting the Paju LCD Industrial Complex, Godeok Industrial Complex expected to the most advanced industrial park ever to be built by GICO. The complex will contain the world´s largest semi-conductor production line. In addition, GICO will undertake development projects involving 17 industrial complexes such as the Yellow Sea Poseung Zone Project and the Wongok Logistics Complex, and contribute to the balanced regional development. 

 

 o Of the 4 key projects, the Namyangju Bogeumjari Housing project, to which most of the budget was allocated (822.2 billion won), will be executed in phases starting this May. A specialization strategy for the Administration Town and the Commercial Special Planning Zone will be established by June. Through this project, GICO will supply a total of 21,558 apartment units, 3,450 of which was pre-applied for by prospective residents in 2010. 

 

 o Furthermore, the second phase of the Gwanggyo New Town Project was completed in December last year, and the third phase of construction is scheduled to be finished by the end of this year. Meanwhile, various strategies reflecting customer needs will be established for the Dongtan 2 New Town, for which the site construction officially began last year.

 

□ GICO President Lee Jae-young stated, “Our corporation celebrated our 15th anniversary of foundation last year, and we will endeavor to further strengthen our internal stability and discover new businesses to secure future growth engines,” and added, “As a public company, we will be committed to providing the best integrated urban services by strengthening our marketing and housing welfare functions and completing the 4 key projects with success.”