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North Jeolla Province Governor Promotes Foreign Investment in Saemangeum

(JEONJU=NEWSIS) North Jeolla Province will invite foreign ambassadors (Kuwait, the United Arab Emirates, Saudi Arabia and Qatar) in Korea who are members of the Gulf Cooperation Council (GCC) to present on investment in Saemangeum.


The GCC was established in May, 1981 and the member states are Kuwait, the United Arab Emirates, Saudi Arabia, Qatar, Oman and Bahrain.

The event, organized by North Jeolla Province and co-prepared by the Korea Agency for Saemangeum Development & Investment, aims to promote medium- and long-term investment from GCC members who are interested in foreign investment.

"Saemangeum, most closely located to China, will become the economic hub of Northeast Asia," said Governor Song Ha-jin.

The GCC member states are to expand global investment with their substantial national fund and the total national fund of the four countries visiting the Province reaches USD 1.804 trillion, which accounts for 30 percent of the global national fund (USD 6.1 trillion).

Source Text

Source: Newsis (August. 28, 2014)

** This article was translated from the Korean.