Gyeonggi Province Accelerates Establishment of 'Gyeonggi Future Investment Corporation'... Dedicated Task Force to Begin Operations This Month

[Suwon Ilbo=Reporter Kim Gapdong] Gyeonggi Province is accelerating the establishment of a policy finance public institution, the '(tentative name) Gyeonggi Future Investment Corporation,' to secure future growth drivers and revitalize the regional economy.

The province formed a dedicated organization called the 'Gyeonggi Future Investment Corporation Establishment Promotion Task Force' and announced on the 6th that it has begun full-fledged operations starting in July.

The newly formed task force, led by a director, consists of 2 divisions—the Planning Division and the Fund Establishment Division—with a total of 10 personnel. Over the initial 2-3 months, the task force will go through a first-phase process to lay the groundwork for establishing the investment corporation and initiate administrative procedures. Subsequently, during Gyeonggi Province's organizational restructuring, it is expected to be elevated to a formal 'division' organizational structure with enhanced expertise and execution capability.

The dedicated task force will be responsible for all administrative matters necessary for establishment until the Gyeonggi Future Investment Corporation is finalized, including holding public hearings and corporate registration. In particular, it will design the structure of the policy fund that will be the corporation's core financing source, establish revenue procurement plans through private capital attraction and collaboration with cities and counties, and promote investments in strategic industries such as semiconductors and AI.

The Gyeonggi Future Investment Corporation plans to operate by separating the management and operation entity, the 'corporation,' from the investment asset, the 'investment fund,' to facilitate external financial investment. The plan is to establish public maternal funds in the form of national growth funds or PIS funds (overseas construction investment funds) using public funds as primary financing sources, and then structure multilayered subsidiary funds considering business characteristics and risk structures.

Actual operation of the subsidiary funds will be delegated to the private sector. Through this approach, the corporation will conduct customized regional investments including supporting future strategic industries such as AI, semiconductors, and robotics, building industrial infrastructure such as power supply, venture scale-ups, and constructing dormitories for semiconductor industry-related company workers.

When making investments related to large corporations, the province plans to reflect co-prosperity measures such as talent development in investment screening. In particular, Gyeonggi Province plans to work closely with semiconductor hub cities and counties such as Hwaseong, Pyeongtaek, and Icheon to secure investment funds so that the benefits of the semiconductor industry boom can be reinvested in strategic industries.

Starting this month with consultations with relevant agencies and plan establishment, the province aims to complete corporate registration and establishment in the second half of next year following administrative procedures including feasibility review, establishment deliberation, and ordinance enactment.

Governor Choo Mi-ae emphasized the necessity of establishing the investment corporation, stating, "We cannot sustain semiconductor achievements with short-term measures like funds alone. There is a reason a solid institutional framework like an investment corporation is needed."

Governor Choo further stated, "The investment corporation will be the first step toward Gyeonggi Province's future where large corporations and small businesses, regions and youth coexist in mutual prosperity," and expressed her determination to push forward the project, saying, "As the semiconductor clock is ticking faster, we will rapidly and firmly build the framework for 'sustained growth' and 'shared growth.'"