Gyeongbuk Province Actively Seeks Measures to Attract 100 Trillion Won Investment in the 8th Elected Term

Successful Investment Attraction ... Leading the Creation of 'A New Republic of Korea with the Power of Gyeongbuk'

Gyeongbuk Provincial Government Office.

[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Gwiyeol] From the 9th to the 10th, Gyeongbuk Province held an ‘Investment Attraction Officer Workshop’ at Uljin Hanwha Resort, attended by more than 70 people including heads of city and county investment attraction departments.

This workshop was held to prepare strategic countermeasures in line with the 20th Yoon Seok-yeol administration’s policy to strengthen regional balanced development and the trend of major conglomerates expanding domestic investment.

The event was held in Uljin, which recently suffered large-scale wildfire damage, adding significance to revitalizing the local economy.

The event included sessions on investment attraction strategies, sharing current issues and best practices, discussions on ways to activate investment attraction, and expert lectures for establishing customized investment attraction strategies for companies.

The province plans to newly launch the ‘8th Term Investment Attraction Special Committee’ in June, composed of prominent and influential figures such as businesspeople, financial consulting experts, and journalists, to drive 100 trillion won in investment attraction during the 8th term of the elected government.

Through this, they plan to seek strategic corporate attraction measures and urged active participation at the city and county levels.

Specifically, they discussed active responses to major conglomerates’ investment announcements, attracting companies linked to the integrated new airport, and plans to attract hydrogen reduction steelmaking and secondary battery material and component companies in line with the global carbon neutrality trend.

In the presentation of the Sangju investment attraction case, the strategic response process that led to a corporate attraction agreement worth 1.1 trillion won with SK Materials was also introduced.

They also revealed plans to continuously attract promising companies in line with the expansion of the secondary battery market to leap forward as a business-friendly city.

The expert lecture continued with suggestions on establishing customized investment attraction strategies from the perspective of businesspeople.

Lee Kang-yoon, Vice President of SK Specialty, explained the rapidly changing domestic and international industrial trends in secondary batteries and semiconductors and the corresponding corporate survival strategies.

Vice President Lee emphasized, “Considering that time is money for companies, it is crucial to create comprehensive investment environment conditions so that companies can invest immediately when they want to, and since companies always consider multiple alternatives when selecting investment locations, it is more important than anything for local governments to understand this corporate perspective.”

Kim Mi-ran, adjunct professor at Kyungpook National University, said, “As the ESG management trend accelerates in the endemic era, companies are devising management strategies to meet the demands of value-conscious consumers, investors leading positive change, and government policy and institutional requirements. Since ESG is an irresistible trend of the times, local governments must also understand the world as seen by entrepreneurs.”

Hwang Jung-ha, Director of the Gyeongbuk Province Investment Attraction Office, emphasized, “Just as the saying goes, ‘You must row when the tide is in,’ now is the time to row as the top 10 major conglomerates have announced large-scale investment plans exceeding 1,000 trillion won over five years. Let us create competitive industrial complexes in advance and produce investment attraction results for the 8th term of the elected government through groundbreaking incentives and pro-business policies to ensure continued large-scale corporate investment.”

This content was produced with the assistance of AI translation services.