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Gyeonggi Province-How we're Preparing for the 21st Century
During the tumultuous past three decades, Korea achieved unprecedented economic growth. It now boasts the world's largest shipbuilding industry, the third-largest semiconductor industry, the fourth-largest electronics industry, and the fifth-largest automobile industry. Economic success and progress toward democracy have created a burgeoning middle class. Korea also possesses well-developed material and institutional social overhead capital.
As a result, conditions in Korea for investment are extremely good. The country is now a world-class manufacturing platform with the latest production technology. a highly-skilled, well-trained, and strongly-motivated workforce, and a huge consumer market.
Korea's greatest advantage is its strategic location between Japan, the second largest economy in the world, and China, the largest potential market in the world.
Gyeonggi Province has a large domestic market, with a population of 24 million in the metropolitan Seoul area and is densely populated with manufacturers and consumers.
In 1997, foreign trade in the Gyeonggi region amounted to USD49.7 billion. Furthermore Gyeonggi Province is at the center of Northeast Asia. Nearby markets such as China, Russia, and Japan with 1.3 billion, 400 million, and 120 million people respectively, give Gyeonggi huge market potential.
Foreign investors investing in Gyeonggi Province will receive equal treatment with domestic companies. Korea has overhauled its institutional framework to attract more foreign investment, and its efforts are being recognized by the international community. Foreign companies have responded by making new investment in Korea, where Gyeonggi offers many unique incentives.
Gyeonggi Province is home not only to big Korean businesses, including Samsung, Hyundai, and SK, but also to many world-class corporations such as Carrier, 3M, Ford, and Coca Cola.
All investors in Gyeonggi can benefit from the services and assistance provided by the central government and Gyeonggi Provincial Government, including all types of business information and consulting on taxation and financing.
Korea now provides a one-stop service for a wide variety of business transactions, another major step toward creating an unrivaled business environment for visionary investors.
As a leader in Korea's economic development, Gyeonggi Province offers huge potential for success. Gyeonggi will be a steadfast partner for your prosperous future.