2010-07 - Korea IT Times

FEZ
Choi Jong-man, commissioner of GFEZ, signs a contract to attract investment from China
invested companies in the machinery and
parts and shipbuilding equipment sectors
to the free trade zone of the estate.
"For the Sindae Hinterland Industrial
Estate, we are persistently pushing ahead
with enticing schools for foreign students,
state-of-the-art medical facilities for foreign
investors and specialized universities,"
said Choi.
"At the same time, the authority will
find out potential investment companies
by building effective networks with KO-
TRA and the foreign chambers of commerce
and industry in Korea that participate
in major exhibitions at home and
abroad in a bid to attract their investment
in the region," said the commissioner.
Last May, Commissioner Choi visited
Japan and succeeded in concluding an investment
agreement with a Japanese company
to build a solar energy parts factory
in the Yulchon No.1 Industrial Estate.
In June, he also visited the Hunan
Province in China and signed a letter of intent
with a Chinese auto parts manufacturing
company for a 20 billion won investment
in the Gwangyang bay area.
The commissioner also engaged in negotiations
to attract investment from
yachting and high technology-related
companies in France.
To increase container traffic volumes at
Gwangyang Port, the commissioner also
visited Tianjin, Qingdao and Hong Kong
during the period from May 24 to 28 and
staged active marketing activities there.
Thanks to economic recovery at home
and abroad, container traffic volume at
Gwangyang Port increased by 19.5 percent
from a year earlier to 851,000 TEU as
of the end of May.
"If this favorable trend continues, we
can achieve the 2010 target for container
traffic volume set at 2 million TEU. In the
future, we will also closely check and analyze
the trend of global harbor logistics industry
and map out a proper strategy," he
said.
Authority's 6-year
achievements
Since its establishment in March 2004,
the authority has attracted a total of 6.5
trillion won in domestic and foreign capital
from 80 companies and created 17,165
jobs, greatly contributing to regional development,
despite such difficult conditions,
including economic slowdown both at
home and abroad. For development projects,
industrial complexes were created
such as the Yulchon 1 Industrial Estate
and the Haeryong Industrial Estate, where
about 80 companies such as Hyundai
Engineering & Steel Engineering and
Samwoo Heavy Industries have moved in
or are building plants, engaging in active
production.
"Of the 80 firms, in particular, 31 or
38.8 percent of the total are foreign companies,
indicating that the Gwangyang
bay area has succeeded in becoming an international
trade stronghold," said Choi.
During the 2004-2009 period, 31 foreign
companies invested a total of 2.5 trillion
won in the Gwangyang bay area, compared
with 2.8 trillion won invested by 79
foreign firms in South Jeolla Province. It
represents 39.2 percent and 90.3 percent of
the province in terms of the number of foreign
companies and investment volume,
respectively.
"It indicates that the degree of contribution
of GFEZ to South Jeolla Province is
very high," said the commissioner.
Cargo volume at Gwangyang Port also
increased 53 percent from 1.19 million
TEU in 2004 to 1.81 million TEU in 2009,
playing a great role for activating the port,
he said.
Lee Kyung-min / info@koreaittimes.com
www.koreaittimes.com 51