GWANGJU < invest Korea

A delegation led by Mayor Kang Un-tae of Gwangju Metropolitan City returned to Korea March 17 after completing investment promotion activities overseas for about a week. Kang signed three investment contracts worth USD 130 million and concluded five export deals worth USD 88 million in Germany and China.

At the International Dental Show, the world’s largest dental exhibition and held in Germany, the delegation signed contracts worth USD 18 million and USD 12 million with Italia’s Bailo Aldo & Figlio s.r.l. and Mexico’s IDEAS Dentales, respectively, to establish dental apparatus production plants in Gwangju Metropolitan City. Additionally, the delegation, Hong Kong’s AK D&D, and Korea’s nTOPS signed a memorandum of understanding (MOU) to invest USD 100 million in building an environmental equipment production plant and a research center in the region.

Korea’s SDM concluded an MOU worth USD 30 million with Germany’s Benteler Automotive to export automobile press molds. Korea’s YTEL Photonics entered into a contract worth 10 million with Germany’s Kaiserlei Konzepte Gmbh to export LED products.

Additionally, Korea’s Alphadent and India’s IDS signed a contract worth USD 15 million, Korea’s KJ Meditech and China’s Jiaozuo Dental Implant a contract worth USD 18 million, and Korea’s ICM and Iran’s KFP Dental a contract worth USD 15 million to export dental materials and medical implant devices.

Meanwhile, the Gwangju Metropolitan City Government will forge a partnership agreement with KOTRA’s European office to support marketing of the city’s mining industry and will help mining companies enter European markets by encouraging them to open branch offices in Europe.

A massive influx of environmental equipment manufacturing plants in Gwangju is expected to contribute to increasing investment and integrating the environmental industry by attracting a large number of related businesses to the region.