Kim Dong-yeon Takes Quick Steps at Davos to Attract Investment and Strengthen International Exchange

[Suwon Ilbo=Reporter Park No-hun] Governor Kim Dong-yeon of Gyeonggi Province, attending the World Economic Forum (Davos Forum) being held in Switzerland, is taking swift steps to attract investment and strengthen international exchange through bilateral talks on-site.

On the morning of the 16th local time, Governor Kim met with Kai Beckmann, Electronics CEO of German science and technology company Merck Group, at the Davos Congress Center to request investment in the electronic materials sector in Gyeonggi Province.

Governor Kim said, "We appreciate Merck's long-term investment, and whenever difficulties arise, we will do our best to provide support," and "The electronic materials supplied by Merck are essential materials that cannot be dispensed with in Gyeonggi Province's strategic industrial sectors. We request investment for continued research and development and expansion of manufacturing facilities."

In response, CEO Kai Beckmann said, "Merck invested in Gyeonggi Province with a vision," citing abundant excellent human resources, absence of unnecessary administrative regulations and bureaucracy, and geographical advantages in international trade such as exports to China as reasons for long-term investment. He added, "We are taking greater interest in Gyeonggi Province and are thinking positively about additional investment. I would like to invite Governor Kim Dong-yeon to our European headquarters."

Merck, headquartered in Germany, is the longest-standing science and technology company with a 356-year history. Since completing its research center and factory at Pyeongtaek's Poseung National Industrial Complex in 2002, it has expanded its OLED materials research center in Pyeongtaek and Ansan, as well as semiconductor manufacturing equipment production facilities. From 2002 to the present, Merck's investment in the province has reached approximately 270 billion won, with 1,700 employees.

In the afternoon of the same day, Governor Kim Dong-yeon met with representatives of Asian central and local governments, including Singapore's President and Minister, China's Liaoning Province Governor, and India's Maharashtra Chief Minister, to strengthen international exchange.

First, meeting with Singapore President Tharman Shanmugaratnam and Minister of Communications and Information Josephine Teo, Governor Kim Dong-yeon said, "In future growth industries, Pangyo in Gyeonggi Province represents Korea," and "Let us cooperate together with Singapore and Gyeonggi Province," officially inviting both to Gyeonggi Province. Governor Kim also explained Gyeonggi Province's youth ladder policy and expressed his intention to "send Gyeonggi Province youth to Singapore universities."

In response, President Tharman Shanmugaratnam said, "The youth ladder policy is a good policy. I will convey it to the Ministry of Education when I return to Singapore," and requested Governor Kim Dong-yeon's visit to Singapore. Minister Josephine Teo also said, "Korea's high-tech and national data strategy are at a high level," and "I hope to cooperate more with Gyeonggi Province."

Following his meeting with Singapore's leaders, Governor Kim met with Li Leqing, Governor of China's Liaoning Province, and had a conversation in a consistently warm atmosphere.

This was the second meeting between the two. Governor Kim made an official visit to Liaoning Province in October of last year to commemorate the 30th anniversary of the sister province relationship between Gyeonggi Province and Liaoning Province, issuing a "Joint Declaration for the 30th Anniversary of Sister Province Relationship" that pledged comprehensive strengthening of cooperation in the economic, tourism, cultural, and people-to-people exchange sectors.

Governor Li Leqing expressed his pleasure, saying, "The theme of this Davos Forum is restoring trust, and it is wonderful to meet the most trustworthy friend." He continued, "I was moved by what Governor Kim discussed regarding cooperation between our two regions during his last visit," and "Party Secretary Hao Peng will visit Gyeonggi Province within this year."

During his visit to Liaoning Province, Governor Kim officially requested that Hao Peng, Liaoning Province Party Secretary, visit Gyeonggi Province.

Governor Kim Dong-yeon said, "Whenever the Party Secretary wishes to visit, please do so. The sooner, the better," and "I also hope Governor Li Leqing will definitely visit Gyeonggi Province."

He also met with Eknath Sambhaji Shinde, Chief Minister of India's Maharashtra state, to exchange views on ways to strengthen friendly cooperation between the two regions.

Chief Minister Eknath Shinde said, "Maharashtra receives the most foreign direct investment among Indian states, and we hope more Korean companies with excellent manpower and infrastructure will invest," adding, "In particular, we are providing many incentives to attract semiconductor companies. Since global semiconductor companies like Samsung and SK Hynix are located in Gyeonggi Province, we hope Gyeonggi Province will help us become good partners with them."

Governor Kim said, "Maharashtra and Gyeonggi Province have maintained 17 years of friendship and maintain good relations with India," and "We congratulate on the business agreement with Hyundai Motor. Gyeonggi Province is home to many large companies including Hyundai Motor, Samsung, and SK. I believe it is desirable for our companies to actively invest in emerging countries like India."

Governor Kim proposed active cooperation between the two regions as well as Chief Minister Eknath Shinde's visit to Gyeonggi Province.

Maharashtra is a state located in western India with its capital at Mumbai. Gyeonggi Province began its relationship with Maharashtra by opening the Gyeonggi Business Center's Mumbai branch in January 2005, and established a friendly cooperative relationship with Maharashtra in 2007. Since then, it has maintained exchange relations including visits by Gyeonggi Province working-level delegations (2009-2019) and visits by Maharashtra's Minister of Commerce and Industry to Gyeonggi Province (2016).