Gyeonggi Province Gov. Kim Moon-soo, left, listens to Volvo Truck Korea President Min Byung-kwan, second from left, describe the carmaker’s classic model at the opening ceremony of Volvo Truck Korea’s new headquarters in Dongtan, Gyeonggi Province, in March. / Courtesy of EUCCK |
 Apart from the awards to EU Companies and Government Authorities, the EUCCK also announced a Special Appreciation Award to Mr. Kim Moon-soo, governor of Gyeonggi Province, for remarkable policies to encourage the culture industry and for supporting EU investors.
The Province has put in place a cultural development plan that includes the creation of a 200 billion won fund for cultural contents by 2010. Under the plan, the province and its governor aim to bolster the culture industry by modernizing traditional culture, promoting homegrown creativity and increasing the consumption of cultural products, among other aims.
Recently, the province entered into an MOU with EUCCK to facilitate exchanges with Europe in diverse sectors including culture, tourism, arts, sports and education. The collaborative projects will include hosting EU festivals in the province, cultural events and visits to major historical sites for Europeans, academic seminars, friendly sports exchanges and social contribution activities. Mr. Jean Marie Hurtiger, president of EUCCK, was also appointed as Gyeonggi Province Promotion Ambassador.
The province is home to many successful manufacturers, all taking advantage of its well-developed infrastructure, industrial facilities, and highly skilled labor force. Particularly promising industries for investment include electricity, electronics, information & communications, semiconductors, automobile parts, machine tools, and metal fabrication. The local government provides comprehensive support, including recommendations for plant sites and tax benefits for investment in high-tech industries.
This year alone, the northwestern province has sealed 21 memorandums of understanding (MOUs) with companies in a wide range of industries from auto parts to cell technology. The value of the agreements adds up to more than $2.2 billion, which is estimated to create 9,900 jobs according to the provincial data. The amount of foreign direct investment that flowed into the province as of the end of October is $1.8 billion, already far more than 2007's $765 million.
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