○ Date of Release: December 10, 2009

○ Source: Investment Support Division (031-249-2763)

On December 10, 2009, Gyeonggi Province hosted an investor briefing by inviting over 200 CEOs and
 executives of foreign-invested businesses, and concluded investment contracts worth USD 10.12 billion
 with three foreign investors.

The briefing was held at Hotel Ramada Plaza Suwon, and Gyeonggi Province captured the interest of participants by providing practical information that can help foreign-invested companies, including information
on the government’s diverse policies to support the successful operation of foreign-invested companies, guidelines on the various tax incentives, and measures to prevent labor-management conflicts.

Governor Kim Moon-Soo of Gyeonggi Province said, “The success of the foreign-invested firms in Gyeonggi Province is the best tool for attracting further investments. Close cooperation between the government and businesses will result in the improvement of the investment environment. I will strive to create a virtuous circle
 of investment, in which close cooperation between the government and industry leads to prosperity for the investors, and the expansion of investments.”

The province also entered into MOUs with Nesscap Incorporated, the second-largest super capacitor manufacturer in the US market, and Metalfit Korea, a manufacturer of head gaskets for car engines. The MOUs with these two companies are worth USD 6 million each, for a total of USD 12 million.

The province signed LOIs worth USD 1 billion for the development of an apartment-type plant located near a subway station in Gwangmyeong with ChinaTel Group, a leading real estate development and investment firm.
 

Under the LOIs and MOUs, state-of-the-art apartment-type plants, R&D centers and officetels will be built near Gwangmyeong Station (Gwangmyeong Techno Valley), and an “LED Cluster” will be completed by attracting international companies in the LED industry. The new plans will facilitate the development of the zone near Gwangmyeong Station, which has long been a goal for the city of Gwangmyeong, and lay the foundation for a new growth engine cluster in Western Gyeonggi area.


A spokesperson for the province said, “Close cooperation and strengthened ties with foreign-invested companies are particularly meaningful, considering that the expansion of investments exceeds 60% of the national investment amount. The province will be making efforts through many different avenues to ensure
close cooperation between the government and the foreign-invested businesses, and will improve the investment environment by promoting an exchange of information with foreign-invested firms.”





the source-http://english.gg.go.kr