Kim Dong-yeon Administration Gyeonggi Province Attracts 69.2 Trillion Won Investment Over Past 2 Years

Gyeonggi Province achieved a total of 69.2 trillion KRW in domestic and foreign investment attraction from July 2022 to May 2024.

"We will mobilize the global human network and Gyeonggi Province's resources to attract investments totaling 100 trillion won during the term, targeting not only domestic conglomerates but also global companies."

This was the investment attraction goal announced by Governor Kim Dong-yeon of Gyeonggi Province in February last year during the '366th Gyeonggi Provincial Assembly Provincial Government Speech.'

So, what is the investment attraction record of Governor Kim Dong-yeon's administration as it approaches the halfway point of the four-year term?

Since Governor Kim Dong-yeon's inauguration, Gyeonggi Province has attracted a total investment of 69.2 trillion won as of the end of May. This means about 70% of the 100 trillion won investment attraction goal set at the beginning of his term has been achieved.

First, over the past two years, Gyeonggi Province attracted 16 trillion won in investments from domestic and international global companies. The sectors of investment attraction cover traditional manufacturing industries as well as new growth industries such as semiconductors and batteries.

The most representative global company investment attraction is the American company Onsemi, the world's second-largest power semiconductor company. Onsemi plans to invest a total of 1.4 trillion won in Gyeonggi Province by 2025. Additionally, in April last year, an agreement was signed with ESR Kendall Square for a 3 trillion won investment over seven years. This company will establish a 1 million square meter eco-friendly complex logistics center in Gyeonggi Province. Other significant achievements include ▲ Linde, the world's largest industrial gas producer, expanding investment by 650 billion won ▲ Green Energy Co., Ltd., a secondary battery new material company, investing 100 billion won ▲ ASM, a semiconductor process equipment company, investing 135 billion won ▲ Vitesco Technologies, a global automotive parts company from Germany, investing 120 billion won.

Gyeonggi Province is also achieving investment attraction results through Techno Valleys and public housing districts. The effect of attracting companies through the creation of industrial complexes, Techno Valleys, public housing districts, and industrial zones is estimated at 18.1 trillion won.

Through the sale of 2.425 million square meters of land in 36 industrial complexes across 14 cities and counties including Pangyo 2nd Techno Valley, an investment attraction result of 9.6528 trillion won was achieved. Also, SK Group will invest 1 trillion won by 2027 in the urban high-tech industrial complex within the Bucheon Daejang public housing district to establish a 137,000 square meter R&D complex for next-generation battery and semiconductor materials, carbon reduction, and other eco-friendly technology development fields.

Gyeonggi Province attracted 34.4 trillion won in investments in areas such as semiconductor industrial complex development. Among these, 26 trillion won has been invested in the world's largest semiconductor cluster connecting Pyeongtaek Godeok and Yongin Wonsam and Namsa. Samsung Electronics is constructing a total of six fabs (FABs) in the Pyeongtaek Godeok industrial complex. SK Hynix is advancing site development work in Yongin Wonsam.

Gyeonggi Province also attracted 2.7 trillion won in investments, including 1.785 trillion won in venture capital through venture investment associations and startup investment companies, and 954 billion won in business expenses from companies located in Pangyo 2nd Techno Valley such as KT Corporation.

Additionally, Gyeonggi Province established the 'G-Fund' with 546.8 billion won to invest in small and venture companies within the province. Currently, 11 funds have been established, with a goal of raising 1 trillion won by 2026.

Park Seung-sam, Director of the Gyeonggi Province Economic Investment Office, stated, "To realize the opportunity capital of the 8th local government, we actively conducted attraction activities and secured investments totaling 69.2 trillion won during the first half of the term," adding, "To achieve the 100 trillion won investment attraction goal, we will encourage early investment from potential investors and actively attract leading companies by industry according to regional specialization strategies in cooperation with cities and counties."

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