'Investment Briefing Session for Returned U.S. Military Facilities in Northern Gyeonggi' Successfully Concludes

A significant undertaking to transform hidden gems in northern Gyeonggi Province—U.S. military-provided lands—into genuine jewels has successfully commenced.

Gyeonggi Province held an 'Investment Briefing Session for Returned U.S. Military Facilities in Northern Gyeonggi' on the afternoon of the 8th at the National Defense Convention Center in Yongsan-gu, Seoul, inviting executives from domestic construction companies, financial institutions, real estate development firms, and private investors.

The briefing session was attended by some 300 participants, including Kim Dong-keun, Executive Vice Governor of Gyeonggi Province, Kim Ki-soo, Director of the U.S. Forces Korea Base Relocation Office at the Ministry of Defense, and Kim Hong-bae, President of the Korean Urban Planning Association.

Northern Gyeonggi Province has suffered from stagnated regional development due to reverse discrimination caused by various unreasonable regulations and inadequate infrastructure such as roads. This investment briefing session was organized to promote the potential of U.S. military-provided lands in northern Gyeonggi and to take the lead in attracting corporate investment.

Executive Vice Governor Kim Dong-keun stated, "In northern Gyeonggi, there exists a hidden gem—some 44 million pyeong of U.S. military-provided land, which is 50 times the size of Yeouido," and added, "We plan to actively attract region-specialized industries such as hotels and tourism, logistics and distribution, and complex development projects, which have significant employment spillover effects, to this precious space."

Accordingly, the investment briefing session featured an introduction to the current status, development purposes, and future plans of returned U.S. military facilities located in three cities in northern Gyeonggi Province—Paju, Dongducheon, and Uijeongbu.

This was followed by in-depth discussions among participants regarding collaboration methods and support measures between local governments and government agencies for revitalizing U.S. military-provided lands.

Gyeonggi Province evaluates that this investment briefing session, where the public and private sectors jointly cooperated to discuss investment activation strategies, will serve as an important turning point for future development in northern Gyeonggi Province.

Going forward, Gyeonggi Province plans to compile opinions gathered through this investment briefing session and seek ways to improve investment attraction for returned U.S. military facilities. The province will also provide information needed by stakeholders to create an environment where businesses can invest with confidence.

Vice Governor Kim stated, "We will strengthen cooperation between local governments and investment attraction efforts to provide customized administrative support from the perspective of businesses."