Gyeonggi-do Leads Nationwide Investment Attraction... Recovers 'Presidential Award' After 9 Years

Gyeonggi Province received the Presidential Award for Excellence in Investment Attraction for the first time in 9 years. Public officials from the Gyeonggi Provincial Government are taking a commemorative photo after the award ceremony.

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi-do received the Presidential Award for achieving the best investment attraction performance among the 17 metropolitan local governments nationwide despite the economic recession caused by COVID-19.

On the 2nd, Gyeonggi-do announced that it received the 'Presidential Award' in the category of outstanding local governments for investment attraction at the '2022 Foreign Companies Day Ceremony' hosted by the Ministry of Trade, Industry and Energy held at the Grand Intercontinental Hotel in Seoul on the 1st. This award is a valuable achievement earned again after 9 years since 2013.

From June 2019 to May this year, the province attracted investments from 36 foreign-invested companies totaling 8.9 trillion KRW over three years. The employment created from this reached about 26,000 people.

In particular, the province has focused all its efforts on attracting global leading (anchor) companies in future technology fields such as future cars (Continental), hydrogen (Linde), and bio (Zenen Bio) to become a forward base in future technology.

It also expanded the production base of advanced industrial materials and components and worked hard to attract investments in key industries to stabilize the domestic parts supply chain, achieving investment attraction results from companies such as Merck (display), Neo Battery Materials (secondary batteries), and Surb (aircraft parts).

Furthermore, the province did not merely support incentives for attracting foreign companies but carried out various projects such as promoting cooperation with innovative small and medium enterprises (SMEs) in the province from the early stages of attraction activities and proposing innovative investment attraction strategies that enable win-win cooperation with overseas companies, including business cooperation plans in Korea.

Especially since the 8th local government administration, it has consecutively succeeded in attracting future research centers of the world's top 1 to 4 semiconductor equipment companies such as Applied Materials (USA), ASML (Netherlands), Lam Research (USA), Tokyo Electron (Japan), and new material companies in the non-memory semiconductor field such as Onsemi (USA) to establish an innovation ecosystem base.

Earlier, on the 27th of last month, at the '2022 Foreign-Invested Companies Day' event, the province announced the 'Investment Attraction Plus Strategy' for creating an innovation ecosystem in the 8th local government administration, revealing plans to promote win-win cooperation between domestic and foreign companies, which attracted attention from attending companies. It also actively conducted investment attraction activities for reshoring support and expansion projects of overseas-expanding companies such as IrenTech and Remote Solution.

Lee Min-woo, head of the Investment Promotion Division of the province, emphasized, "Through the newly implemented Investment Attraction Plus Strategy in the 8th local government administration, we will shift towards a direction that can lead to qualitative achievements beyond quantitative investment attraction growth," adding, "We will strive to attract and settle foreign companies that contribute to revitalizing the regional economy, promote win-win cooperation between foreign-invested companies entering Korea and innovative SMEs in the province, and strengthen the investment attraction capabilities of cities and counties."

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