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Gyeonggi Province's Drive to Attract Foreign Investment

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공표년도

창작년도

2006-09-08

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Now‚ let's begin by introducing Gyeonggi Province's efforts in attracting foreign investments to the area. What are some of the things that foreign investors can look forward to Gyeonggi Province has established a number of complexes exclusively for the use of foreign-invested companies.
The total area of these complexes amounts to more than 240 thousand square meters‚ and they currently house 88 foreign companies.
In addition‚ the Gyeonggi Provincial Government frequently dispatches delegations overseas for the purpose of investment inducement and negotiation.
These missions are often headed by the governor‚ and we have traveled a combined distance of more than 600 thousand kilometers in the pursuit of foreign direct investment.
Moreover‚ the province is continuously endeavoring to improve its business environment.
We are doing this through the provision of improved transportation systems and language training programs for the employees of foreign-invested companies.
We also are improving the quality of life for foreign residents of the province through the provision of practical information and services.
What benefits does the provincial government think a successful inducement of foreign investment would bring to the local job market Over the past 4 years‚ Gyeonggi Province has succeeded in attracting 114 foreign companies which invested combined amount of 14 billion US dollars.
If all goes as planned‚ these foreign-invested companies will create approximately 30 thousand new jobs‚ primarily in advanced and high-tech industries.
This number is significant not only for Gyeonggi Province itself but also for Korea as a whole.
There must have been some difficulties when trying to bring in foreign capital. Could you give us some examples of that There are some difficulties in the attraction for foreign-direct investment.
For example‚ Gyeonggi Province's proximity to North Korea has previously been a source of concern for potential investors.
These days‚ however‚ more and more investors are taking advantage of the opportunities found in the northern areas of our province.
Also‚ labor relations in Korea have been perceived as troublesome. But this is proving not to be the case‚ particularly in those knowledge-based industries in which foreign companies are operating.
The sluggish Korean economy‚ with diminished growth rates and growing wages‚ is also a potential difficulty.
But our economic performance still compares favorably with the majority of other nations in the world.
Gyeonggi Province is fortunate to have several unique merits.
First‚ the presence of numerous world-renowned companies in our province -- including Samsung‚ LG.Philips and Hyundai -- provides excellent opportunities for their foreign suppliers and partners.
Secondly‚ Gyeonggi Province surrounds the Korean capital city of Seoul‚ and derives major benefits from the presence of this economic‚ political and cultural center.
On top of this‚ our province is strategically situated at the heart of Northeast Asia‚ and offers easy access to the dynamic markets of its neighbors through Incheon International Airport and Pyeongtaek Port.
Thirdly‚ our highly skilled human resources as well as our superior infrastructure have proven particularly interesting to foreign high-tech operations.
And‚ of course‚ the Gyeonggi Provincial Government provides comprehensive administrative support specifically tailored to the needs of each foreign-invested company.
I could provide more examples‚ but these are some of the key merits of Gyeonggi Province.
Please‚ tell us about the Gyeonggi Provincial Government's future plans to accomodate foreign investors' needs.
Gyeonggi Province is implementing several policies to ensure our success in the attraction of foreign direct investment.
Of course‚ we ar

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