2024 Gyeonggi Province Settlement Eighth Civilian Government of Gyeonggi Province Targets '100 Trillion Won+ Investment Attraction'...Achieved 73% by This Year

[Suwon Ilbo=Reporter Kim Kap-dong] The goal of the eighth civilian government of Gyeonggi Province to achieve '100 trillion won+ investment attraction' is coming into view.

The province has attracted approximately 73.36 trillion won in investment as of November 30 this year, starting from July 2022 when the eighth civilian government commenced. This represents approximately 73% of the target investment amount (100 trillion won) achieved in just over two years and four months.

The province has pursued an all-encompassing investment attraction strategy encompassing not only foreign capital as before, but also domestic and international companies, policy funds, and techno-valley development. In particular, this year has focused on more aggressive attraction activities and sustainable investment environment creation amid growing international uncertainty and economic crisis. We examine the investment attraction status from the launch of the eighth civilian government to the present.

■ Gyeonggi Province Governor Kim Dong-yeon Works Hard for Investment Attraction

The province's overseas investment attraction activities this year began at the World Economic Forum (Davos Forum) in January. During his visit to Switzerland to attend the Davos Forum, Governor Kim conducted investment attraction activities there as well. The governor met with Kai Beckmann, chairman of electronics at the global science and technology company Merck Group of Germany, and requested investment in Gyeonggi Province's electronic materials sector.

Subsequently, during a May visit to the United States, he succeeded in attracting overseas investment including two investment agreements (MOU) worth 350 billion won from Shinsegae Simon Co., Ltd. and 61 billion won from Cosmo Energie Co., Ltd., two investment intentions (LOI) of 157 billion won, and investment consultations of 860 billion won.

In October, Governor Kim visited the United States again to confirm 2.1 trillion won in investment from ESR Kendall Square and UL Solutions, and then traveled to the Netherlands to discuss investment cooperation plans at the headquarters of ASM (Advanced Semiconductor Materials) and ASML (ASM Lithography), world-leading semiconductor equipment companies.

■ 20.25 Trillion Won in Investment Attracted from Domestic and Global Companies

Through these efforts, the eighth civilian government of Gyeonggi Province attracted 20.25 trillion won in investment from domestic and global companies as of November 30.

As a result of concentrated attraction of advanced technology companies in semiconductor and eco-friendly logistics industries, the province achieved 14.21 trillion won in investment from ASML, AMAT, ON Semiconductor, and ESR Kendall Square.

Among these, Japan's ULVAC, ranked among the world's best in semiconductor vacuum equipment, completed a technology center for semiconductor manufacturing equipment technology development at Gyeonggi Province's dedicated foreign investment company rental complex located in Cheongbuk-eup, Pyeongtaek-si in October. This was the result of Governor Kim Dong-yeon's direct visit to ULVAC's headquarters in Japan last April, when an investment attraction agreement worth 133 billion won was signed.

The Gyeonggi Economic Free Zone has attracted 6.04 trillion won from anchor companies in key strategic industries such as hydrogen, semiconductors, and mobility from U.S. Air Products, Japan's Tokyo Ohka Kogyo (TOK), and Hyundai Mobis, contributing to the creation of an innovation ecosystem.

■ 33.03 Trillion Won in Investment Attracted in Advanced Industry Sectors

The province concentrated investment attraction capabilities to discover future growth engines such as semiconductors, future vehicles, and biotechnology, attracting approximately 33.03 trillion won in investment in semiconductor industrial complex development.

The province is developing the world's largest semiconductor cluster worth 29.32 trillion won, connecting Pyeongtaek Godeok, Yongin Wonsam, and Namsa. In the venture startup sector, the province attracted 3.59 trillion won in investment, and in the mobility and biotech sectors including Hwaseong Kia's future vehicle new plant and Hwaseong Yanggam hydrogen-integrated energy center, attracted 116 billion won in investment.

■ 17.73 Trillion Won Attracted Through Development of Industrial Complexes, Self-Sufficient Cities, and Innovation Clusters

Investment attraction effects from industrial complex, techno-valley, public housing district, and industrial zone development were tallied at 17.73 trillion won.

Through land sales for the second Pangyo Techno-Valley, Gimpo Hakun 5 General Industrial Complex, and 35 industrial complexes across 13 cities and counties, the province achieved 9.33 trillion won in results. Additionally, through land sales for self-sufficient use in public housing districts that will become self-sufficient cities with diverse functions beyond industrial complexes and industrial areas, the province achieved 8.40 trillion won in business attraction.

■ 2.35 Trillion Won in Investment Attracted Through G-Fund and National R&D

The G-Fund, established to expand investment opportunities for small and medium-sized enterprises and venture companies in the province, accumulated 852.6 billion won (excluding provincial funding) as of November 30, 2024 in the eighth civilian government. Through G-Fund investment, the province achieved results in producing 46 companies through initial public offerings (IPO), pre-unicorns, and baby unicorns. Additionally, by securing 1.50 trillion won in national public R&D projects centered on information technology (IT), biotechnology (BT), and environmental engineering technology (ET) sectors, the province filed 6,265 domestic and international patents, making significant contributions to fostering future growth industries and securing industrial competitiveness.