Invest KOREA

The Greater Tumen Initiative (GTI) International Trade & Investment Fair 2013, sponsored by several state-run agencies, will be held in Gangneung-si (City), Gangwon-do (Province) in June in a bid to strengthen the partnership of the Northeast Asian countries. The agencies include the Ministry of Strategy and Finance, Ministry of Foreign Affairs and Trade, Ministry of Knowledge Economy and Korea Trade-Investment Promotion Agency.

About 2,500 buyers from 350 domestic and overseas companies will participate in the fair.

Gangwon is considering inviting representatives of 128 foreign companies having signed an investment memorandum of understanding on the development of free economic zone (FEZ) in the East Sea with the province to give them an opportunity to visit the site.

Kim Sang-pyo, Gangwon Governor of Economy, plans to visit Jilin, Liaoning and Beijing in late this month to call on the Chinese local governments for cooperation. He will also visit China Council for the Promotion of International Trade, China’s largest trade group.

The province has organized a taskforce for successful organization of the fair and luring more investors.

The GTI tourism council, regional cooperative forum, international trade promotion forum and trade and investment seminar will also be held on the sideline of the event.

The fair will lay the groundwork for elevating Gangwon’s status into Northeast Asia’s economic hub, the province expects.

“We will do everything we can to support participating companies to conclude export contacts with buyers and entice foreign investors to the FEZ,” said a Gangwon official.

Source: Yonhap News (Feb. 9, 2013)

** This is the translation of a Korean article.