Gyeonggi Province Governor Choo Mi-ae: "Gyeonggi Future Investment Corporation Should Be Established with Momentum"

[Suwon Ilbo=Reporter Kim Kap-dong] Governor Choo Mi-ae of Gyeonggi Province instructed the implementation of MOU conclusion with relevant cities and counties by early October to establish the (tentative name) Gyeonggi Future Investment Corporation and lay the foundation for joint investment.

Governor Choo, presiding over the 3rd Gyeonggi Future Investment Corporation TF Strategy Meeting in her office at the Provincial Government Building on the afternoon of the 23rd, stated, "A policy finance platform is necessary to invest long-term and stably in future strategic industries such as semiconductors and AI, and for this, the establishment of Gyeonggi Future Investment Corporation should be pursued with momentum," she said.

Previously, at the 2nd Gyeonggi Future Investment Corporation TF Strategy Meeting held on the 20th, Governor Choo ordered the conclusion of MOUs by the end of the year regarding investment in the 'Gyeonggi Future Investment Corporation' with basic local governments that are semiconductor industry hubs such as Suwon, Hwaseong, Pyeongtaek, Icheon, Anseong, and Osan, and has now specified a concrete timeline.

Governor Choo also demonstrated strong will for the establishment of Gyeonggi Future Investment Corporation, stating, "We cannot abandon the future even if fiscal conditions are difficult."

She continued, "While the existing G-Fund has played an important role in supporting small and medium-sized and venture enterprises within the province, it has limitations in fields requiring long-term investment such as small and medium-sized parts suppliers and R&D; companies," and emphasized long-term investment support, adding, "Gyeonggi Future Investment Corporation should function as a new policy finance platform that supplements these limitations and supports industrial infrastructure and corporate growth."

Meanwhile, the province formed a TF in July with the goal of launching the Gyeonggi Future Investment Corporation in the second half of next year, and plans to gradually implement administrative procedures including deliberation on feasibility studies for institution establishment and enactment of ordinances.