Gyeonggi-do, Gyeonggi Association of Foreign-invested Companies has signed with ibis Ambassador Suwon Hotel located in Suwon Paldal-gu.
It is to improve the business environment where foreign management can freely use hotel room
and meeting, and so on.

First step of mutual cooperation with Foreign-invested

Companies for hotel industry within province

As first, various business convention with ibis Ambassador Hotel

To improve the business environment in Gyeonggi-do, Gyeonggi Association of Foreign-invested Companies (hereafter, GAFIC) has signed with ibis Ambassador Suwon Hotel located in Suwon Paldalgu.
As main contents in convention, ibis Ambassador Hotel exclusive membership card will be provided to Foreign-invested enterprises, so that let them get discount of room charge and free access to meeting
rooms. If there is cost-occurrence while using conference room, the cost would not paid by user but will be paid by GAFIC in lump sum, and the management of Foreign-invested enterprises is allow to use in free. Also applying a Club card program, whenever use any Ambassador affiliated hotel, there will be an additional feature that cumulate point which can be used like cash. And for the convenience in use, the
separate facility of foreign-invested enterprises will be established on the 1st floor of the hotel.
Related with business convention with ibis Ambassador Hotel Imbyeonghun, the chairman of association said “By the nature of foreign- invested enterprises, many management from foreign countries cannot but visit to Korea. Through business convention with ibis Hotel, it is like create hotel room for foreign management and business room available to use freely.” And he said and emphasized practical effect of the convention. “In such a difficult economic environment, this news is as good as rainfall in drought to management of foreigninvested enterprises who try hard for economic recovery”

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2009 Large Company Purchasing Policy Presentation

was held for improving the management environment

of foreign-invested companies

Providing the place of opportunity to discover new prosperous route
of foreign-invested companies in the midst of economic difficulty for eigner-invested companiesin the midst of economic difficulty.

Gyeonggi Association of Foreign-invested Companies (GAFIChereafter), in cooperation with the Gyeonggi province, held the‘Large Company Purchasing Policy Presentation’ on February 26th at the ibis Ambassador
hotel in Suwon by inviting CEOs of foreigninvested companies in the province. Among the large companies, Samsung Electronics and Hynix from the field of semiconductor, Samsung Electronics and LG Display
from the field of LCD, and Hyundai-Kia Motors Group from the field of automotive were participated.
In this event, Chairman of GAFIC, Byung-Hoon Im, stressed, ‘In the circumstances where recent elongation of economic slump becomes an established fact, if everybody shrinks inward as a defensive posture, a
greater crisis will be appeared, and therefore, this is the time when the active measures to regard the crisis as the opportunity is required. Director of economic investment department of Gyeonggi province, Hee-Gyeom Kim, expressed, ‘It is true that the investment of foreigner is shrunk due to the worldwide economic crisis and the explanation meeting on the purchasing policy will be organized continuously as a part of effort to break through the current difficulties.’ He also showed the expectation on this event by saying, ‘The effort
to improve the management environment of the foreigner-invested companies, which was already invested, will have a strong influence to the inducement of future investment.’ This event of the day was progressed
in the order of question, answer and discussion with the participation of more than 100 persons from large companies and foreign-invested companies.

AVANSTRATE KOREA : WINNIG GYEONGGI PROVINCE
FOREIGN-INVESTED COMPANIES GRAND PRIZE

Manufacturing Industry Glass Substrate for
LCD-Signed memorandum of understanding : Investment of 220 million dollars,
Incremental Investment of 300 million dollars



Gold Prize : Samsung TESCO (U.K.), SB LiMotive (Germany)
Pyeongtaek city : selected as the best city with attracting
240 million dollar investment





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Gyeonggi-do plays a leading role in foreign direct investment


Outside of Seoul, Gyeonggi-do is ranked practically first in the share of the reported amount of foreign direct investment (FDI) in Korea. The reported investment amount in Gyeonggi-do, during the term of the 4th popularly elected governor, is 5.2 billion US dollars, 16.4% of the national total of 31.8 billion US dollars. If Seoul, (approximately 54% of the national amount), where many financial institutes and major company headquarters are located is excluded, the reported amount for Gyeonggido, during the term of the 4th popularly elected governor, represents 36% of the national total.

It is also ranked first in attracting practical FDI. In addition, as 54 companies (84%) out of the 65 companies to have signed MOUs in the term of the 4th popularly elected governor, are pushing ahead with investment procedures, including the commencement of construction, operation, and preparation for tenant occupation.
It can confidently be said that Gyeonggido's FDI is substantial for the country. Seen in terms of industry type, 45 (81%) out of 55 manufacturing industry companies are operating normally, while the service industry, where it usually takes 3-5 years to execute advanced procedures, is being planned at the moment.

Among these cases, Shinsegae Chelsea, which signed an investment MOU of approximately
100 billion won, held a ground-breaking ceremony in Paju on November 27 and started to execute its large-scale investment activities. It is thought that this successful investment attraction to Gyeonggi-do was made possible because the province maintained a strong system of investment attraction information exchange and all-the-time advice in professional areas, by organizing and operating an investment attraction advisory unit consisting of major company executives and external experts in investment and commerce. (Investment attraction advisory unit (20 members): 1 representative of a foreign investment company, 4 executives
of major companies, 10 field experts, and 5 persons from related institutes and the academic world.) In addition, it is notable that the province focused on finding potential investors and customized investment attraction activities through target company discovery, joint investment attraction activities, targeting for
each industry type, and domestic and overseas match-making among companies with close information exchanges with major companies. For instance, Gyeonggi-do attracted the investment of 0.3 billion US dollars from Avanstrate, located in Hyeongok Industrial Complex in Pyeongtaek, through joint investment attraction activities such as sharing the list of target companies with Samsung Electronics. Gyeonggi-do is planning to develop industries such as semi-conductor and LCD parts manufacturing, vehicle design, and engine and parts production, by continuously attracting investments in LED, new renewable energy, core part and material companies, and global R&D centers, all linked with the green growth strategies of the nation as well as the province. In addition, the province is planning to push ahead with development projects linked with local development strategies and attract service industry companies, including those operating in logistics, distribution, and tourism.

The fact that the ratio of investment amounts resulting from increased investment amounts to that attributable to attracting new investment is positive proves that success has been achieved through the utilization of the province’s range of strategies. Gyeonggi-do says that it will endeavor to not only attract new investments by improving the investment environment, but also attract 'investment by increasing the amounts invested' through its continuous follow-up management of existing investors.

FDI forum held in GAFIC…


On November 18, the FDI Forum, held by the Gyeonggi Research Institute (GRI) on a regular basis, was held in a new place, Hyeongok Industrial Complex in Pyeongtaek, where foreign investment companies are concentrated, in order to maximize responsiveness to those in the field. At the forum, participants discussed plans for investment attraction revitalization based on real cases in relation to investment by increasing the amounts invested and attracting money to related investment areas. Related persons from the Investment Promotion Office of Gyeonggi-do Office, a group of chairpersons, including Im Byung-Hoon, chair of the
Gyeonggi Association of Foreign-invested Companies (GAFIC), and FDI forum members, participated in a heated discussion. Meanwhile, GAFIC continues to provide follow-up support to foreign-invested companies, discover new potential foreign-invested companies, and provide information to research institutes, playing a range of roles to create a better investment environment. The participants of the forum discussed the case of Telstar-Hommel Corporation for analysis purposes. Telstar-Hommel Corporation came to Korea as a manufacturer of measuring and assembly machinery with German capital, but, with recent changes in the domestic investment environment, the company tried to improve the efficiency of the investment by increasing the amount invested, shifting its focus onto related investments. The administrative
institutes faced difficulties because they had never experienced suchan administrative situation. However, they finally recognized the related investments in the laser area, an area of a subsidiary of the Germany Jenoptik Group, through various interpretations and approaches. Consequently, Jenoptik Korea was established by Telstar-Hommel Corporation. This success story proved a significant case not because it was simply a matter of achange of business types, but because the strategy helped the company secure
a strong position in Asia.

GAFIC and KOTRA Cooperate for the

"Creation of a Better Foreign Investment Environment"


On November 19, the Gyeonggi Association of Foreign-invested Companies (GAFIC) had a meeting with the Ombudsmen of the Korea Trade-Investment Promotion Agency (KOTRA), the top national institute handling
foreign-invested companies. On this day, working-level expert members, including Dr. Ahn Choong-Yong, KOTRA Foreign Investment Ombudsman, a group of chairpersons, including Im Byeong-hoon, and foreign-invested company representatives, as well as people from GAFIC attended the meeting. Kim Jin-ho, the investment attraction advisor, and the head of the Investment Environment Team from the Gyeonggi-do
Office, also attended the meeting to learn of the hold-ups experienced by foreign-invested companies in Gyeonggi-do. The meeting was expected to be a productive way for the three
parties to discuss future support plans. The participants had an opportunity to introduce their institutes to each other and discuss plans to improve the foreign investment environment and address the problems
of hold-ups. They were also able to exchange their opinions on how to resolve the many problems faced and how to develop improvement plans regarding the creation of a better foreign investment environment. In addition, there were many opinions offered regarding plans for the development and execution of joint cooperative projects between KOTRA and GAFIC, which are, ultimately, institutes with the same goal. The representatives of both institutes emphasized, "Let's make this meeting a regularly held event to adaddress
the hold-ups faced by foreign-invested companies in more depth." The participants recognized that the institutes needed mutual cooperation. It is expected that the foreign investment environment in Korea as well as in Gyeonggi-do will improve faster through the establishment of a closer cooperation system between the two.

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Gyeonggi Province Highlights the Need to Ease Regulations on the Metropolitan Area

In remarks on May 15, 2009, Gyeonggi Province Governor Kim Moon-Soo highlighted the need to ease regulations on the metropolitan area, saying "Gyeonggi Province is not a colony of the Ministry of Land, Transport and Maritime Affairs."

During a conference with Mayors of eup, myeon, and dong that was held at the Icheon Ceramic Center, Governor Kim mentioned the fact that businesses like Hynix Semiconductor were suffering difficulties in plant expansion due to the restrictions on development, saying, "Gyeonggi Province is not a colony of the Ministry of Land, Transport, and Maritime Affairs. We are not a cash cow for the Korea Land Corporation and Korea National Housing Corporation."

Governor Kim also said, "Japan even accommodates chemical plants in downtown areas. New cities should provide workplaces for citizens, but we are now trying to remove plants. To build a new city that lasts one hundred years, it should be equipped with workplaces as well as beautiful green areas."

Governor Kim also expressed his strong confidence in the success of GTX, which Gyeonggi Province has been focused on.

He said, "The construction of the GTX requires a huge investment, but after completion, it will bring much higher financial return. Korea will emerge as the world¡？s No. 1 railroad powerhouse, ahead of New York, Tokyo, and Paris."


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Investment agreement (MOU) valued USD 161MM is signed with 5 companies in US

2009 4 April Info letter No.59

Held the presentation of investment environment for the company
in the sector of new and renewable energy, and financial companies

Investment lure activities and activities of friendly and cooperative were conducted by Gyeonghhi-do in New York and California for 5 nights 7 days from last March 8. Results of investment lure activities are sign on Investment agreement (MOU) valued USD 161MM with 5 companies include two companies in the field of aviation. And Held the presentation of investment environment for the company in the sector of new and renewable energy, and financial companies, and Consult investment with global companied in the field of Shopping mall, wireless communications technology. In addition, foreign investment on the base of stronger
collaboration with central government increse senergy effects by structure represent group corporate with the Ministry of knowledge & economics and conduct investment lure activities.

In detail, by attract global companies in the fields of PCB board ($ 30,000,000) for mobile, special gas ($ 30,000,000)for semiconductor, expect great contribution to sustainable growth and development of related industry nationally focused. And secure competitive ability in domestic new and renewable energy industry,
by encourage investment to the company owe technique in core components of hybrid car, at the time of the need for new and renewable energy is earnestly desired more than ever.

Signing ceremony mutual corporation with Gyeongi Nano Specialized Fab Center -SEMATECH. From lest Gocheolgi, representative director of nano elementcpecialized fab center, Michael Polcary, chairman of sema tech, Kim moon so, Gyeonggi governor.

There is good performance in the field of wireless communication as well. With Broad COM, leading
company in semiconductor, and design companies for wireless communication, investment agreement (MOU) valued $ 20,000,000 was signed. With Qualcom, world best in wireless communication area, discussed Gyeonggi-do investment plan through individual consultation. In case both parts establish R&D center, it is expected as a prop for domestic company such as Samsung, LG to keep leading position
in semiconductor and wireless communication field. Also, With RED, worldwide shopping mall developer, signed Letter of Intent (LOI) valued $ 300,000,000. With Raleigh studio, largest film production facility in US, have discussion to attract investment. If we achieve investment from RED and Raleigh studio, we expect
contribution in increase job in province as well as theme shopping mall and cultural complex attract tourist in northeast Asia.

In addition, with nano-element Specialized Fab Center, and SEMATECH (Semiconductor Manufacturing Technology),global semiconductor consortium, signed Memorandum of Understanding (MOU) about mutual cooperation for the development of technologies in the field of compound semiconductor element. Through
this technical cooperation, by combine nano processing technology from nano-element Specialized Fab Center and element, material technology from SEMATECH, the synergy effect of technical develop in the field of semiconductor element is expected. In future, based on this technical cooperation, both company plan to
expand corporation into the field of compound semiconductor, high-efficiency solar cells, high-temperature & power nitride and optical device.

Through this visit to US, established corporation relationship with California State, 1 ranked in regional GDP
(GRDP), in the field of green industry include shares and trade. In meeting with Arnold Schwarzenegger, governor of California, Kim Moon-su, Governor of Gyeonggi-do share the idea that green industry is prime area to raise income and increase job, and promise each province to strengthen the partnership of green industry in future. Governor confirmed to support the company of California servicing in Gyeonggi-do and vice versa. Initiated from this meeting, Gyeonggi-do will expand exchange cooperation relationship,
focused from the field of new and renewable energy.

While recent number of unemployed reach to 200,000 in Gyronggi-do, it is expected that creating 11,000 direct and indirect jobs via this attract investment and it will help to alive local economy. Governor Kim Moon-su said, “In this visit to the United States, by visiting production factory of domestic companies, I confirmed that to recover economy, to make business friendly environment is essential through fundamental and continuous regulatory reform. It should not be overlooked that the reason of transfer production abroad, as Samsung and a South Korean-based companies did is not only to seek localization, but also make free business activity in a good environment. In order to create jobs, we have to stop the escape abroad of domestic companies as well as attract overseas companies. To make this, aggressive and fundamental deregulations that make more business friendly environment is required.

PDF Download↓
2009.04Newsletter_English.pdf

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Great Train Express in metropolitan area shows it concrete outline

Gyeonggi-do, had proclaim ceremony for traffic revolution
in metropolitan area and announce service result
Analyzed that it has business efficiency based on first line often in 2016

Concrete outline of great train express in metropolitan area, known as dream of transportation allow moving from Dongtan to Gangnam in 18 min, is revealed. On April 14, with Kim Moon-Su, governor of Gyeonggi-do, press corps, and civil representative of Dongtan area, Gyeonggido had ‘proclaim ceremony for GTX, transportation revolution in metropolitan area, and special press conference’, snd announced service result to evaluate the efficiency of economy and technology of GTX that Gyeonggi-do concreting. This service result contains induction plan of total 145.5km section of GTX, and suggest three lines: line A connect Kintex to Sooseo(Dongtan) with length 46.4km(74.8km), Line B connect Songdo Incheon to Cheungryangli with length 49.9km, and line C connect Uijeongbu to Gumjung with length 49.3km .
The demand of usage for GTX is expected as 76,000 traffics per day in 2016, and economic efficiency (B/C) is estimated as 1.24, therefore, sufficient business efficiency can be found. In case the cost of business is supported by financial affair, it is reported that over 13 thousand 9 hundred billion Won will be required.
Through the report from Korean Society of transportation, expected effects due to GTX are; ▲reduce 880,000 car traffic per day, ▲reduce 1,500,000 ton of carbon dioxide emission per year, ▲reduce energy consumption cost 580 billion won, ▲reduce cost in heavy traffic, 700 billion one per year, ▲effect of job creation for 260000 people. In addition, service result also contains detail operation plan of train: for the train will be used in GTX adopt the train developed in the country that can have maximum speed 160~200km/h and actual speed (average speed include the time required to stop at station) 100km/h: allocate 6 trains per one service: set 5.5 minute between service in commute time for A line connect Kintex to Dongtan.
All these days, Gyeonggi-do has kept suggest to adopt GTX to solve traffic issue in metropolitan area, and has studied validity, economic efficiency, and technical efficiency for introduction of GTX by requesting to Korean Society of transportation in last April, 2008. Province plans to submit this service result announced on that date to the ministry of land transport and maritime affaires in this week at earliest.
GTX, the business planed and promoted by Gyeonggi-do at first, is know that has high possibility of realization as the ministry of land transport and maritime affaires also shows positive attitude. Once the ministry of land transport and maritime affaires take GTX as part of national plan, Gyeonggi-do expect execution of the project would be infallible with private fund attraction.
On the other hand, Gyeonggi-do named this great express train in metropolitan area as GTX (Great Train eXpress) in the proclaim ceremony of that day, and reveled they have plan to promote public subscription as well as cooperate with the ministry of land transport and maritime affaires. Choi Min-seong, officer of railroad maritime and logistics affairs of Gyeonggi-do explained “‘G’ in GTX means ‘Great, Green, Global, Governance’” and contains the meaning that GTX is the solution to solve traffic issue in metropolitan area, and the alternative traffic plan of Gyeonggi-do to minimize environmental contamination and improve the competitive power of metropolitan area.
If GTX open as planned in 2016, it is expected that Gyeonggi-do would have significant change in personal and material exchange.
As well as big benefit to foreign investment company resident within the province, there is dominated expectation that it takes a role of firm stepstone for investment attraction hereafter.


Expected effect when the business conduct
· Increase efficiency in transportation area and green development
· Reduce about 450,000ton/year of energy consumption on the road (effect reduce cost W584.6 billion)
· Reduce 1,490,000 ton/year of carbon dioxide emission. Reduce disposal cost W59.5 billion /year for CO2 emission Maximize the effect of revival economy
· Maximize the effect of revival economy
· Create job in construction industry –expect effect lead to employ about 260,000 people
· Ripple effect on local economy – expect effect of 2,750 billion lead to produce
· Solve issue in metropolitan area and strengthen competitive power
· Contribute to solve housing issue by enlarge day life zone
· Strengthen competitive power of metropolitan area by expand economic activity base
· Secure technology of world best great express train and ability of its export
· Compare to actual speed 60Km/h of fastest PER Paris France, that of it over 100Km/h.
· Activate train industry through export abroad

PDF Download↓
2009.05 Newsletter_English.pdf

the source - http://www.invest.go.kr/eng/index.jsp