Gyeonggi Province, HP, and Seongnam City Join Forces to Build 'Global Strategic R&D Hub'

[Suwon Ilbo=Park No-hoon Reporter] Gyeonggi Province, Seongnam City, and HP have signed a memorandum of understanding (MOU) and agreed to mutually cooperate in successfully establishing a 'Global Strategic R&D; Hub' and advancing the IT industry.
The 'Global Strategic R&D; Hub,' which consists of 'business facilities' to be located within the 'Pangyo Alphadome City' building in Bundang-gu's Baekxon-dong, Seongnam City, and an 'R&D; Center' to be built in Sujeong-gu's Godeung-dong area, is expected to receive a total investment of $400 million, and is anticipated to significantly boost the local economy.

Governor Lee Jae-myung of Gyeonggi Province, Seongnam Mayor Eun Soo-mi, and HP Printing Korea CEO Kim Gwang-seok signed the 'HP New Headquarters Construction MOU' on the 21st at the Gyeonggi Province Government Situation Room in the presence of approximately 20 people including Lim Shin-ok, Senior Executive Vice President of Human Resources, Justin Chi, HP Headquarters Design & Architecture Project Manager, and Kim Hye-seon, HP Printing Korea Government Relations Director.

Governor Lee Jae-myung stated, "I believe that the greatest value of our society lies in 'fairness,' and this is no different for corporations, individuals, or regions," adding "The role of administration is to create a 'fair environment without unjust regulations' so that companies can fully demonstrate their capabilities and receive appropriate compensation commensurate with their contributions." He continued, "The purpose of politics is to help people live comfortably and well; in practical terms, 'local economic revitalization' and 'job creation' are truly important tasks," and emphasized, "I hope HP will achieve great success and make significant social contributions not only to Gyeonggi Province but to Korean society as a whole. We will spare no effort in providing active administrative support so that the project can be completed smoothly."

CEO Kim Gwang-seok said, "There have been many challenges in creating a new position in the global print market, so I am pleased to be able to establish ourselves in such a favorable location," adding "Given that we are embarking on a large-scale project in Asia's Silicon Valley, I believe we will be able to play a leading role. I hope that through the sharing of know-how, we can together create a 'mutually beneficial space.'"

In accordance with this agreement, Gyeonggi Province and Seongnam City will cooperate in successfully establishing the 'Global Strategic R&D; Hub' and advancing related IT industries through administrative support such as permits and licenses necessary for project implementation. HP will work to fulfill 'local economic revitalization' and the corporation's 'social responsibility' through education and charitable activities. Additionally, the three organizations agreed to make joint efforts in discovering mutually cooperative programs and maintaining smooth communication with the local community.

HP plans to complete construction of the 'R&D; Center' with 7 floors above ground and 5 floors below ground in the Godeung-dong area of Seongnam City by February 2022.