SEOUL, April 16 (Korea Bizwire) — The governor of South Korea’s most populous province has attracted a combined 4 trillion won (US$3.06 billion) in investment from four companies during his first trip to the United States, the provincial government said Sunday.
Kim Dong-yeon, governor of Gyeonggi Province, held an investment attraction event in New York on Thursday (local time), in which ESR-Kendall Square, the South Korean unit of Asia-Pacific real estate manager ESR Group, promised to invest 3 trillion won to help build a mega-size logistics center in the province over the next seven years.
The former South Korean finance minister also inked an investment deal worth 500 billion won with Air Products, a Pennsylvania-based firm selling gases and chemicals for industrial uses.
The deal calls for a five-year investment in expanding production facilities for industrial-use gases essential for chipmaking in Yongin, Pyeongtaek and other areas of Gyeonggi Province.
During the U.S. trip, Kim has also received a promise by two other companies to invest around 500 billion won in Gyeonggi Province that surrounds the capital Seoul.
“Of the four companies, at least two expressed intent to make additional investment,” Kim told reporters who accompanied him on the latest trip, expressing “satisfaction” over the outcome of the trip.
Kim visited five U.S. states, including Michigan and New York, from April 9-15 as part of his trip aimed at drawing overseas investments and expanding training opportunities for South Korean youths.
His overseas trip also includes a stop in Japan from April 16-19.