Kim Dong-yeon Secures Massive $3.5 Trillion Investment in One Day in the U.S.

Gyeonggi Province Governor Kim Dong-yeon (left) visited the headquarters of ESR Kendall Square in the United States on the 13th (local time) and took a commemorative photo after holding an investment event with Nam Sun-woo, CEO of ESR Kendall Square (center).

Gyeonggi Province Governor Kim Dong-yeon has succeeded in attracting investment for the creation of an eco-friendly complex logistics center aimed at reducing carbon emissions, with a scale of 3 trillion won. Additionally, he signed an investment agreement for a semiconductor industrial gas production facility worth 500 billion won.

Gyeonggi Province announced on the 14th that Governor Kim held an investment attraction event on the 13th (local time) at the headquarters of W, a global private equity fund company and shareholder of ESR Group, located on Lexington Avenue in New York, with ESR Kendall Square.

At the event, Governor Kim stated, "By establishing an eco-friendly complex logistics center based on hydrogen energy, we can also achieve a testbed effect where new technologies and new industries can be demonstrated and experimented with," adding, "It is not just simple logistics but a new opportunity platform that will lead promising future new industries. I was very impressed and will actively support it."

According to the agreement made that day, ESR Kendall Square, a logistics real estate development and operation company, will invest $2.3 billion (approximately 3 trillion won) over the next seven years to develop the largest eco-friendly complex logistics center in the province, covering 1 million square meters. The eco-friendly complex logistics center will include ▲ hydrogen logistics systems (hydrogen refueling stations, hydrogen forklifts, etc.) ▲ drone delivery and operation centers ▲ smart farms ▲ new industry testbeds.

The province expects that the establishment of the eco-friendly complex logistics center will help alleviate logistics difficulties in the metropolitan area, utilize renewable energy, create large-scale employment, and revitalize the economy. The province estimates that the new employment effect will be about 5,000 people, the induced economic effect will be 2.5 trillion won, and annual tax revenue will exceed 13 billion won.

ESR Kendall Square is the largest logistics center investment and development platform foreign-invested company in Korea, jointly established in 2014 by ESR Group, a global real estate operation and investment company. ESR is a global logistics investment company with an investment portfolio of $149.5 billion based on global standards. It actively invests in the Asia-Pacific region, including Korea, China, Japan, Australia, and India.

Governor Kim also signed a memorandum of understanding for investment in a semiconductor industrial gas production facility worth 500 billion won with Air Products, a world-renowned industrial gas production company, on the same day.

This investment by Air Products is a concrete result of Governor Kim's investment attraction efforts. In November last year, Governor Kim held an investment attraction roundtable at Dodamso, the former Gyeonggi Province governor's official residence, inviting CEOs of five future growth innovative companies preparing to make investment decisions. At the event, Governor Kim encouraged investments by saying, "We will support companies more actively than any local government or even the central government," and after the event, Air Products CEO Kim Seung-rok requested a visit to Air Products' U.S. headquarters. Governor Kim achieved an investment attraction result of 500 billion won on this occasion.

Gyeonggi Province Governor Kim Dong-yeon (left) is taking a commemorative photo after signing an investment agreement with Chairman Sefi Ghasemi during a visit to Air Products in Pennsylvania, USA, on the 13th (local time).

Seifi Ghasemi, Chairman of Air Products, said, "We are not simply supplying customers and products but working together to help companies, countries, and humanity," adding, "We will continue to invest heavily in Gyeonggi Province and look forward to many cooperative relationships. Let us work together for decarbonization through the technologies Air Products possesses."

According to the investment memorandum of understanding signed that day, Air Products will invest 500 billion won to expand industrial gas production facilities essential for the semiconductor industry in Gyeonggi Province. They also promised to prioritize hiring Gyeonggi residents to revitalize the local economy.

Founded in 1940, Air Products is a global industrial gas company that supplies industrial gases and related equipment to various manufacturing sectors such as semiconductors, petrochemicals, food and beverages, and advanced displays, recording annual sales of $12.7 billion.

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