Visit to the New York Stock Exchange, introduce startups in Gyeonggi-do, introduce three strategies to make the province a ‘startup paradise’ at the ‘2024 NYC Startup Summit’
Gyeonggi Province Governor Kim Dong-yeon visits the New York Stock Exchange on the morning of the 18th (local time) and tours the facilities with New York Stock Exchange Vice President Chris Taylor. Provided by Gyeonggi-do
As Gyeonggi Province Governor Kim Dong-yeon, who visited the eastern United States and carried out ‘sales diplomacy’, succeeded in attracting large-scale foreign investment totaling more than 2 trillion won, expectations are growing for the revitalization of the economy in Gyeonggi Province.
On the 19th (Korean time), Gyeonggi Province Governor Kim Dong-yeon signed an investment agreement and took a commemorative photo with Todd James Dennison, senior vice president of global regional management at UL Solutions. Provided by Gyeonggi-do
■ Investment attraction of KRW 2.1 trillion confirmed
Gyeonggi Province announced on the 20th that Governor Kim Dong-yeon confirmed on the 19th (Korean time) to attract a total of 2.1 trillion won in investment from ESR Kendall Square, the country’s largest logistics real estate development and operation company, and UL Solutions of the United States.
First, Governor Kim signed an investment cooperation agreement (MOU) for the creation of an eco-friendly complex logistics complex at the Korea International Trade Association’s grand conference room in New York. Attending the event were Nam Sun-woo, CEO of ESR Kendall Square, and Jake Siewert, Managing Director of Warburg Pincus.
Representative Nam explained at the signing ceremony that by investing 2 trillion won, there will be 7,700 jobs created and 2.5 trillion won economic stimulation effect.
According to the agreement, an eco-friendly complex logistics complex will be created in Yeoju City in 2027 with an area of 990,000 m2 in connection with new industries. It will be created as an environmentally friendly logistics complex where new and renewable energy will be introduced, and hydrogen logistics infrastructure such as hydrogen charging stations will be built, and solar power generation facilities will also be installed in the parking lot and the rooftop of the logistics center.
In addition, ESR Kendall Square plans to create a corporate support fund related to high-tech industries (automation systems, AI, robots, etc.) in Yeoju City, and plans to provide test bed space, field learning, and job fairs through industry-academia cooperation with local universities. .
Accordingly, the province analyzes that an opportunity will be created for startups and young people in the eastern Gyeonggi region, an area where regulations overlap.
On the 19th (Korean time), Gyeonggi Province Governor Kim Dong-yeon met with Nam Sun-woo, CEO of ESR Kendall Square, and signed an investment agreement for an eco-friendly complex logistics complex. Provided by Gyeonggi-do
Governor Kim said, “The province will join forces to ensure that the eco-friendly logistics center becomes the most exemplary facility in Korea as a carbon-reducing logistics center that combines new and renewable energy and cutting-edge technology.”
On this day, Governor Kim also signed a business agreement with UL Solutions to establish a high-tech automobile and battery testing center in Korea. The signing ceremony was attended by headquarters executives, including Todd James Dennison, senior vice president of global regional management at UL Solutions.
UL Solutions plans to invest up to 100 billion won in total and establish a ‘high-tech automobile and battery testing center’ in the Pyeongtaek Oseong foreign investment zone. Once established, a test base will be established to evaluate the performance, reliability, and safety of batteries dedicated to advanced mobility, EVs (electric vehicles), and ESS (energy storage systems).
The province expects to use this to support the R&D and acquisition of overseas certification for electric vehicle and battery-related companies in the province and to further strengthen the competitiveness of the domestic mobility industry.
Governor Kim said, “The province will provide maximum support and do everything we can to proceed with the project going forward.”
On the 19th (Korean time), Gyeonggi Province Governor Kim Dong-yeon met with New York Stock Exchange Vice President Chris Taylor and had a conversation. Provided by Gyeonggi-do
■ ‘Buy Gyeonggi-do’
Governor Kim visited the New York Stock Exchange on this day and met with Vice President Chris Taylor to talk about the development of startups in the province.
The New York Stock Exchange, a symbol of Wall Street, is the world’s largest stock exchange that calculates major global stock market indices such as the Dow and Standard & Poor’s 500 indices.
In a meeting with Vice President Chris, Governor Kim said, “Considering the size of Korea’s economy, more companies should be listed on the New York Stock Exchange. This time, we came with 22 startups from the province, and one day, they will also be listed here.” “I hope this comes,” he expressed his hope.
Vice President Chris said, “I am always surprised by Korea’s growth. “It is an amazing country with good infrastructure, cleanliness, and technological advancement,” he said. “For companies interested in entering overseas markets, listing on the New York Stock Exchange will be a great opportunity as it will provide greater access to capital and attract attention.” He said.
After finishing his schedule with Vice President Chris, Governor Kim appeared on the American broadcast (Global Money Talk) of Sampro TV, a YouTube economic channel.
At this event, Governor Kim explained the province’s charms to New York stock market investors with the keynote of ‘Buy Gyeonggi-do’ and ‘Buy Korea’.
On the 19th (Korean time), Gyeonggi Province Governor Kim Dong-yeon attended the ‘2024 NYC Startup Summit (Korea Startup Forum New York)’ and gave an opening speech. Provided by Gyeonggi-do
■ Strategy for ‘Startup Heaven’
After completing his visit to the New York Stock Exchange, Governor Kim attended the ‘2024 NYC Startup Summit (Korea Startup Forum New York)’ held nearby and made an opening speech.
The NYC Startup Summit is a venue where Korean investors and startup leaders from various fields gather to share success stories and discuss collaboration plans. At this summit, 10 of the provincial companies that accompanied Governor Kim conducted corporate promotions.
In his opening speech, Governor Kim said, “We plan to make the province a ‘startup paradise,’” and introduced three strategies: space (clustering), connection (networking), and globalization (globalization).
First, Governor Kim said, “The province is creating Korea’s largest startup innovation space of 200,000 pyeong in more than 20 regions across Gyeonggi-do, including the Pangyo hub.” He added, “The strengths and capabilities of Pangyo, the ‘heart of startups in Korea,’ are on display throughout the province.” “We will provide the optimal environment for this to happen,” he emphasized.
He continued, “The venture and startup cluster created by the province will include large corporations, mid-sized companies, public institutions, and private support organizations, and will further expand to include industry, academia, research, and overseas networking.”
He said, “The province will actively support local startups with infinite potential in opportunities to enter overseas markets, localization, and investment attraction.”
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