Gyeonggi Governor Dong Yeon Kim Continues Diplomatic Efforts in New York for Foreign Investment and Startup Support

Gyeonggi Province Governor Dong Yeon Kim is making great strides during his visit to the United States! ✨ On September 18, Governor K...

Gyeonggi Province Governor Dong Yeon Kim is making great strides during his visit to the United States! ✨

On September 18, Governor Kim visited New York, marking an important step in attracting foreign investment, promoting the “Buy Gyeonggi” campaign, and supporting startups. Let’s take a closer look at the significant achievements of this visit and what’s to come!

💼 Securing KRW 2.1 Trillion in Investment
On September 18 (local time), Governor Kim finalized a KRW 2.1 trillion investment from ESR Kendall Square, Korea’s largest logistics real estate developer, and UL Solutions, a US-based safety certification company.

The signing ceremony took place at the Korea International Trade Association’s Grand Conference Room in New York. ESR Kendall Square CEO Nam Sun-woo and Warburg Pincus Managing Director Jake Seward were present at the event.

Nam announced an ambitious KRW 2 trillion investment plan, which is expected to create 7,700 new jobs and generate an economic impact of KRW 2.5 trillion. As part of the agreement, a 990,000 square -meter (approximately 30 million square feet) eco-friendly logistics complex will be built in Yeoju City by 2027. This cutting-edge facility will incorporate renewable energy, including hydrogen fueling stations and solar power installations, ensuring sustainable operations.

🌍 “Buy Gyeonggi” Campaign In celebration of Governor Kim’s visit, the South Korean flag was proudly displayed at the New York Stock Exchange (NYSE)! Chris Taylor, Vice President of the NYSE, expressed his optimism about the potential increase in listings from Korean companies.

Governor Kim introduced 22 startups from Gyeonggi Province, commenting, “I hope that one day, these startups will be listed here on the NYSE.” Taylor responded positively, stating that going public offers increased access to capital and visibility, which could be a tremendous opportunity for companies looking to enter the global market.

✔️ 🚀 Strategies for Building a Thriving Startup Ecosystem
Governor Kim also delivered the opening speech at the 2024 NYC Startup Summit, an event bringing together Korean investors and startup leaders to share success stories and explore opportunities for collaboration. During his address, Governor Kim outlined three key strategies to transform Gyeonggi into a “Startup Paradise”:

1. Clustering (Expanding Spaces): Gyeonggi Province plans to create more innovation spaces, centered around Pangyo New Town, through the “Pangyo +20 Project.”

2. Networking (Expanding Opportunities): The province will foster a connected startup ecosystem, involving large corporations, public institutions, and private support organizations to create a wealth of opportunities.

3. Globalization (Expanding the Stage): Governor Kim emphasized his commitment to supporting Gyeonggi-based startups in their efforts to expand into overseas markets.

He also reflected on how Seongnam, once a small city, grew into a hub of innovation by embracing Pangyo New Town, now one of Korea’s most prominent tech centers. Governor Kim concluded his speech by expressing confidence that today’s efforts would spark a significant "Innovation Alliance" and lead to transformative change in the future.

Looking Ahead
Governor Kim Dong-yeon’s visit to New York is expected to enhance Gyeonggi Province’s global standing and attract further investment, while providing crucial support for startups. Stay tuned for more exciting developments as Gyeonggi continues to grow and make its mark on the global stage!

Let’s continue to support and cheer for Gyeonggi Province as it embarks on this exciting journey toward boundless growth! 😊

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