Invest KOREA

Actively cooperate in discovering investment projects for startups and region’s major industries, and attracting foreign investment
Expect to generate jobs and reinvigorate regional economy, along with Gwangju-style jobs

KOTRA signed MOU on establishing a cooperative system for foreign investment promotion with Gwangju city and Gwangju Techno Park at Gawngju city hall on March 21, with an aim to revitalize regional economy and create jobs.

By signing MOU, the three entities agreed to closely cooperate in: supporting startups in Gwangju area to attract foreign investment; discovering strategic projects in the region’s major industries; establishing database for promising potential investors; and opening IR and dispatching delegations.

In particular, large corporations and their suppliers have increasing demand for relocation to Gwangju area, due to materialization of large national projects such as Gwangju-style jobs and Bitgreen Industrial Complex. Accordingly, it is expected to see an increase in interest of foreign investors whose businesses belong to relevant industries. With MOU, the three entities plan to discover potential investors and investment attraction projects in energy, automobiles, artificial intelligence (AI), hydrogen, and air industries which are those the region is focused on fostering. Also, KOTRA’s overseas offices will be selected to pursue cooperation in particular industries to proceed with specific joint projects within this year.

KOTRA President Kwon Pyung-oh said, “We will be able to contribute to creating foundation for regional industries by closely cooperating in support for foreign investment attraction of promising enterprises and industries through this MOU,” adding that “going forward, KOTRA will actively support foreign investment attraction in non-capital areas to help addressing the challenges of our time – revitalization of regional economy and job creation.”

Source : Invest KOREA (March 22, 2019)