The 27th World-OKTA Convention will be held in Suwon, Gyeonggi Province

Gyeonggi Province, which attracted KRW 133 billion investment in a Japanese semiconductor research institute, has signed three business ...

Gyeonggi Province, which attracted KRW 133 billion investment in a Japanese semiconductor research institute, has signed three business agreements with the World Korean Traders Association (World-OKTA), the largest overseas Korean economic organization. Let's take a closer look at Gyeonggi Province Governor Dong Yeon Kim’s final overseas visit and the details of the agreements.

Signed 3 Agreements with the World Korean Traders Association (Wolrd-OKTA).

During his visit to Japan to expand overseas investment and youth opportunities, Governor Kim signed an agreement with the World Korean Traders Association (World-OKTA) for the hosting of the 27th World-OKTA Convention in Suwon, Gyeonggi Province. If the hosting is confirmed, it is expected that more than 1,000 World-OKTA members and entrepreneurs will visit Suwon in October when the convention is held.

On April 18, Governor Kim attended the opening ceremony of the 24th World Representative Conference, hosted by the World Korean Traders Association (World-OKTA), at the New Otani Hotel in Tokyo, Japan. He signed three business agreements with World-OKTA Chairman Jang Young-sik, including the hosting of the 27th World Korean Business Convention in Suwon, "Export Support Partnership," and "Gyeonggi Youth Ladder Program Cooperation." Under the agreements, Gyeonggi Province, Suwon City, and World-OKTA will jointly promote the 27th World-OKTA Convention, which will be held in October.

Governor Kim said that this is an opportunity to showcase Suwon, which combines tradition and advanced technology, and that there will be numerous export consultations with companies, which will greatly help revitalize the local economy.

In addition, World-OKTA will make efforts to support export promotion projects and resolve companies' difficulties using its global network, and has promised to cooperate in utilizing the network to provide opportunities for more than 100 Gyeonggi youth to be dispatched to World-OKTA member companies around the world, including programs for young people such as the Gyeonggi Youth Ladder Program, which is being conducted by Gyeonggi Province.

The World Korean Traders Association, founded in 1981, has 142 chapters in 67 countries, and is an organization with more than 7,000 regular members and 26,000 next-generation members. The organization aims to strengthen its network among its members and pursue a global Korean economic community, with the goal of promoting trade in its home country and contributing to overseas market expansion.

Tokyo Ohka Kogyo (TOK) of Japan signs agreement to establish advanced manufacturing facilities.
In addition, Governor Kim has signed an agreement with Tokyo Ohka Kogyo, the world's largest company in the photolithography-related core material of semiconductors, to establish advanced manufacturing facilities. Through the agreement, Tokyo Ohka Kogyo plans to invest 101 billion won by 2027 to build a photolithography manufacturing facility for the core semiconductor material, photoresist, with a site area of 55,560m2 in the Pyeongtaek Poseung (BIX) Industrial Complex in the Gyeonggi Free Economic Zone.

Governor Kim attracted a total of KRW 234 billion won in investments during his recent visit to Japan, including an investment agreement with Alvac. This investment agreement is expected to create an additional 70 jobs and contribute to the stabilization of the semiconductor material supply chain, as well as further solidify the semiconductor ecosystem in Gyeonggi Province by attracting core semiconductor production facilities.

In his speech, Governor Kim expressed his expectation of the technical capabilities of photoresist and how it has attracted leading semiconductor companies from around the world to Gyeonggi Province. He promised to actively support administrative support and problem-solving to enable mutually beneficial cooperation with Tokyo Ohka Kogyo and to continuously cooperate for job creation and industrial development in Gyeonggi Province.

Tokyo Ohka Kogyo is the world's largest producer of photolithography for semiconductor production, supplying to companies such as Samsung Electronics, SK Hynix, TSMC, and Intel, with a global market share of 26%. Photoresist is a core semiconductor material used to draw circuits on silicon wafers.

Tokyo Ohka Kogyo's photoresist, which will be produced at the Pyeongtaek P4 factory, is one of the three major export-restricted items in Japan that is difficult to localize, and as of 2022, the dependency on Japan is still high at 77.4%. Although the Japanese government recently announced the lifting of export restrictions, expanding production facilities in Korea considering the crisis caused by future changes in the political situation would have a significant effect on stabilizing the overall semiconductor supply chain.

Governor Kim’s First Japan Visit
https://www.gyeonggido-korea.com/2023/04/gyeonggi-province-attracts.html