Expanding Economic Spheres and Strengthening International Collaboration with North American Regions

Representatives from Gyeonggi Province traveled to four regions in the US and Canada during a 13-day journey that ran from May 6 to 18....

Representatives from Gyeonggi Province traveled to four regions in the US and Canada during a 13-day journey that ran from May 6 to 18.

Today, following up on our previous posts about the North American trip, let's delve into the detailed itinerary from May 13 to 16, which covers four days of visits across various regions including British Columbia in Canada, and states like Arizona and California in the US. The delegation engaged in numerous meetings with businesses to discuss cooperation and build stronger partnerships.

What were the outcomes? Let's take a closer look:

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o (5/13) Visited British Columbia to Strengthen International Exchanges and Attract Foreign Investment

On the morning of May 13, Gyeonggi Province Governor Dong Yeon Kim and the accompanying delegation members visited the Lieutenant Governor's residence and the provincial parliament in British Columbia (BC). They had breakfast with Lieutenant Governor Janet Austin and Premier David Eby, emphasizing cooperation in the areas of energy, clean technology, and climate change, as well as exploring new opportunities for trade and investment.

Since establishing a sisterhood relationship in May 2008, the two regions have continued exchanges in areas such as media content, IT, disaster safety, culture and arts, sports, and education.Gyeonggi Province's visit further solidified the already strong relationship between the two regions and also garnered attention as British Columbia extended the highest level of hospitality to the delegation.

During the Meeting, Gyeonggi Province expressed significant interest in fostering AI and technology investments with British Columbia. the discussions focused on creating a supportive environment for new business ventures, including technology exchanges and support for the startup ecosystem. The goal was to promote economic development and attract investment.

Both regions plan to actively leverage this opportunity to strengthen economic ties in the coming years. Additionally during this meeting, Gyeonggi Province proposed collaboration strategies, such as linking various youth support projects including Gyeonggi Province's youth intern program with working holiday schemes, giving priority to Gyeonggi program participants.

[URL to BC's promotinal materials]
https://www.britishcolumbia.ca/news-stories/gyeonggi-governors-visit-spurs-new-trade-and-investment-opportunities-in-b-c/

o (5/14) Visited Arizona to Sign a Friendship and Cooperation Agreement Related to the Semiconductor Industry

On May 14, Governor Kim met with Arizona State Governor Katie Hobbs and signed a friendship and cooperation agreement, making Arizona the fourth US state to enter such an agreement with Gyeonggi Province after Texas, Michigan, and California. This agreement aims to foster enterprise, startup, IT, and advanced industry exchanges.

The afternoon of the same day, Governor Kim visited the headquarters of ON Semiconductor in Scottsdale and met with CEO Hassane El-Khoury to discuss cooperation with small and medium-sized enterprises in Gyeonggi.

ON Semiconductor, which has already committed to an investment of approximately KRW 1.4 trillion in constructing the world's largest silicon carbide manufacturing facility in Gyeonggi Province’s Bucheon City, received proposals for further investment in and cooperation with small enterprises during this visit.

o (5/15) Visited Biocom, Illumina Headquarters, and San Diego to Establish Business Partnerships

On May 15, the delegation visited the headquarters of several companies and signed agreements on business cooperation and partnerships.

At Biocom California’s headquarters, they delivered a Letter of Intent (LOI) to President and CEO John Panetta, aiming to enhance partnerships between Gyeonggi Province and Biocom CA. The LOI includes proposals for hosting a Korean branch of Biocom CA in Gwanggyo (Suwon) and establishing a continuous communication channel between Gyeonggi Province and California.

At Illumina’s headquarters, discussions with Vice President Ashley Van Zeeland focused on enhancing cooperation in biotech talent development, startup capacity building, and genome data utilization.

A meeting with San Diego Mayor Todd Gloria focused on cooperation in the bio sector, highlighting an upcoming visit by Gyeonggi Province youths to UC San Diego through this year’s Gyeonggi Youth Ladder Program, emphasizing the importance of their interests.

o (5/16) Secured a KRW 410 Billion Foreign Investment on the Last Day

On the final day, a business cooperation agreement was signed with Shinsegae Simon for new and expanded investments in premium outlets in Gyeonggi Province. This includes expansions in Siheung Yeoju Premium Outlets, and new developments in eastern and northern Gyeonggi, boosting major development projects in those regions.

Additionally, a significant investment agreement was also made with Cosmo ENG to establish a secondary battery material production and research facility in Yeoju City. Utilizing technology sourced from the US, this project will see the investment of KRW 61 billion over the next five years, creating 20 new jobs and contributing to regional revitalization.

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Throughout this 13-day trip, Gyeonggi Province visited seven major cities in four regions across two countries, establishing six corporate partnerships and signing two MOUs and four investment intents, securing a total of KRW 1.428 trillion in foreign investments.

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Gyeonggi Province continues to strive for global advancement, and we encourage you to support and follow Gyeonggi’s ongoing efforts in global innovation and international cooperation! 😃