Gyeonggi Province held an investment seminar for foreign reporters, who have visited Korea ahead of G20 Seoul Summit 2010, at Ramada Plaza Suwon Hotel on November 3rd. The seminar was designed to promote Gyeonggi’s geographical and economic status and introduce its investment climate and major development projects for the West Sea.
Gyeonggi Province invited foreign reporters and businesspeople who joined Foreign Investment Week, organized by KOTRA, ahead of G20 Seoul Summit (Nov. 11th - 12th, 2010) to the investment seminar. The participants include 36 reporters of 17 countries in Asia, Europe, Oceania, etc. and CEOs of overseas companies in the semiconductor, display, and LED industries.
The Province introduced its economic and industrial standing as a growth engine of Korea, the foreign investment climate, and supporting institutions. The Director of Kimberly-Clark Innovation Center, Rob Everett, had a presentation on Gyeonggi’s excellent investment environment and administrative support by citing its R&D center establishment and operation.
Before the investment seminar, foreign investors and global corporate executives visited the promotional hall of Samsung Electronics and Gwanggyo Techno Valley to take a look at successful cases of Korea’s global companies and Gyeonggi’s high-tech industrial research complex.
Meanwhile, Gyeonggi Province signed an MOU worth USD 40 million with Ardentec Corp. of Taiwan at Ramada Plaza Suwon Hotel. Ardentec Corp. is the tenth largest semiconductor test company, and plans to establish a semiconductor testing center in the Province under the MOU.
Korea’s semiconductor companies expect to significantly reduce the period and costs for semiconductor testing, since wafer tests can be conducted in Gyeonggi. So far, they have commissioned such tests to other countries. Also, Ardentec Corp. covers a wide range of products from memory to non-memory semiconductors, potentially contributing to higher competitiveness of Korea’s semiconductor industry and generating about 100 new jobs.
Gyeonggi Governor Kim Moon-soo promised to provide continued administrative support and requested the company to contribute to the regional economy by creating jobs for the youth.