Kim Dong-yeon Achieves '4 Trillion Investment Attraction, Youth Overseas Training, and Strengthening Innovation Alliance' During US Business Trip

Gyeonggi Province Governor Kim Dong-yeon is taking a commemorative photo on the 13th (local time) after signing a Gyeonggi Province investment agreement worth 3 trillion won with Nam Sun-woo, CEO of ESR Kendall Square (center).

Gyeonggi Province Governor Kim Dong-yeon signed investment attraction contracts worth 4 trillion won with four local companies during his business trip to the United States from the 9th to the 15th. He also agreed to operate the Gyeonggi Youth Overseas Training Program with two renowned American universities. Additionally, tangible results were achieved in expanding mutual exchange and cooperation between Gyeonggi Province and the states of Michigan and Virginia. Here is a summary of Governor Kim's first business trip to the U.S.

■ 4 Trillion Won 'Investment Attraction' from Four U.S. Companies

Governor Kim visited five regions including Michigan, New York, Connecticut, Pennsylvania, and Virginia, securing investments worth 4 trillion won from four overseas companies. First, ESR Kendall Square Co., Ltd. will invest $2.3 billion (approximately 3 trillion won) over the next seven years to develop a 1 million square meter eco-friendly complex logistics center. The province expects that once the logistics center is completed, it will create about 5,000 new jobs, generate an economic ripple effect of 2.5 trillion won, and secure over 13 billion won in annual tax revenue.

Governor Kim then moved to Pennsylvania and signed a 500 billion won investment agreement with Air Products, an industrial gas company.

In Connecticut, he also attracted an investment of $380 million (approximately 500 billion won) from Linde, another industrial gas company. Linde had signed a 150 billion won investment agreement in January and decided on an additional investment more than three times that amount within three months, adding significance to the deal.

Governor Kim also signed a contract with Integris, a U.S. semiconductor materials company, to establish a comprehensive research center in Suwon.

The success of this investment attraction is attributed to Governor Kim's proactive persuasion and efforts. He tailored explanations of Gyeonggi Province's strengths and support commitments to each businessperson he met, successfully leading to investments.

A provincial official stated, "In the case of ESR Kendall Square, which promised the largest investment of 3 trillion won during this U.S. trip, Governor Kim succeeded in attracting investment by pledging continuous support for Gyeonggi Province's key responses to climate change such as RE100 implementation and the creation of an eco-friendly complex logistics center."

■ Overseas Training for Gyeonggi Youth with Two U.S. Universities

During his visit to the U.S., Governor Kim achieved notable results by agreeing to jointly operate the 'Gyeonggi Youth Ladder Program' with Michigan State University and the State University of New York at Buffalo.

Gyeonggi Province Governor Kim Dong-yeon (left) held a signing ceremony for the Gyeonggi Youth Ladder Program with Satish K. Tripathi, President of the State University of New York at Buffalo, at the SUNY Global Center in New York, USA, on the 12th (local time), and took a commemorative photo.

The Gyeonggi Youth Ladder Program is designed to provide young people in Gyeonggi Province with opportunities to realize higher dreams through overseas university training and local cultural experiences, encouraging diverse career development and a spirit of challenge. The program aims to reduce social disparities and provide opportunities for social mobility.

According to agreements with the two universities, Gyeonggi Province will dispatch more than 80 young people to these universities this year.

The two universities will conduct an overseas training program named 'Gyeonggi Youth Ladder' this year, including language studies, cultural experiences, company visits, and team projects.

The province annually dispatches about 300 participants to universities and companies in the U.S., China, Australia, and other countries to operate training programs.

■ 'Innovation Alliance' with Michigan and Virginia

Governor Kim also achieved visible results in building innovation alliances during his U.S. visit. On the 11th (local time), he met with Michigan Governor Gretchen Whitmer and reached a consensus on promoting the establishment of innovation alliances in strategic industries such as automobiles, secondary batteries, and renewable energy.

Governor Kim proposed, "Gyeonggi Province is a core region in South Korea not only in batteries, mobility, and bio sectors but also in renewable energy, which Governor Whitmer is interested in. I hope Gyeonggi and Michigan can form an innovation alliance." Governor Whitmer responded enthusiastically, "I share the same view. There are many commonalities in technology and economic fields between our regions. Working together will create synergy."

Gyeonggi Province Governor Kim Dong-yeon (right) visited Michigan on the 11th (local time) and took a commemorative photo with Michigan Governor Gretchen Whitmer.

On the 14th (local time), Governor Kim agreed by phone with Virginia Governor Glenn Youngkin to work on revitalizing relations between the two regions. Gyeonggi Province and Virginia signed a sisterhood agreement in April 1997 and had active exchanges, but these were halted due to COVID-19. Governor Kim suggested to Governor Youngkin, "I hope to resume the suspended policy council to further expand the sister region relationship with Virginia. I will have the Director of Future Growth Industry and the International Relations Ambassador oversee this." He also proposed personnel exchanges between officials of both regions and support for the 2030 Busan Expo bid.

Governor Youngkin replied, "I hope the relationship between our regions will be revitalized. I will oversee this personally, and also have the state commerce secretary and chief of staff involved."

Governor Kim also met with Kathleen Stephens, Director of the Korea-U.S. Economic Institute, to exchange views on Korea-U.S. issues.

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