Suwon Hosts Investment Briefing in Singapore to Attract Advanced Tech Companies; 6 Companies Express Investment Intent

Suwon City visited Singapore to attract foreign direct investment into the 'Suwon District, a Candidate for Economic Free Zone.'

Suwon Special City (Mayor Lee Jae-jun) held an investment briefing session on the 15th for local advanced technology companies in Singapore, 'Asia's Innovation Hub.'

The investment briefing held at the Amara Hotel in Singapore was attended by Mayor Lee Jae-jun of Suwon Special City, Suwon Special City Council members Jo Mi-ok and Jung Ok-seon, a Suwon City delegation, officials from Singapore's Science and Technology Agency, Singapore Startup Promotion Association, and the Association of Korean Scientists and Engineers in Singapore, Andrew Kim, CEO of ⓒLaservalTech and Suwon's investment attraction ambassador, and representatives from 24 Singapore-based companies.

The event consisted of an explanation of investment opportunities in the Suwon District, a candidate for the Economic Free Zone, a case presentation by Andrew Kim, CEO of ⓒLaservalTech, a Letters of Intent (LOI) signing ceremony, and information on foreign investment procedures.

ⓒLaservalTech, which signed an investment agreement with Suwon City in 2024, is a specialized company in intelligent engineering platform solutions with headquarters in Singapore and an R&D; center in Suwon.

Among the companies that attended the investment briefing on the day, six companies submitted Letters of Intent (LOI) valued at a total of $112.8 million (151.8 billion won) to Mayor Lee Jae-jun.

In his opening remarks, Mayor Lee Jae-jun stated, "Suwon City is preparing to designate an Economic Free Zone with the goal of creating a global advanced science research city," and added, "We will attract not only research and business facilities but also foreign resident housing, medical and cultural facilities, and renowned global schools to create one of Korea's most desirable living environments."

Um Sang-keun, head of Suwon's Economic Free Zone Task Force, explained Suwon's location and industrial environment, investment incentives, and the city's R&D; ecosystem centered on advanced industries such as semiconductors, artificial intelligence (AI), and biotechnology, and presented possibilities for cooperation with global companies. He also introduced opportunities for Singapore-based companies to enter the Korean market and invest in the Suwon District, a candidate for the Gyeonggi Economic Free Zone.