North-east Asia is emerging as the new core of the global economy. South Korea is situated at the centre of north-east Asia and has a history of phenomenal economic growth; it met and created new global standards within an incredibly short period of time. The nation has grown to become the world’s 11th largest economy and is gaining ever-greater recognition as an ideal investment location. Enabling advancement from the centre of South Korea to the centre of north-east Asia, Gyeonggi Province is the ‘Asia investment base camp’.

Investing in Gyeonggi Province

 

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The merits of Gyeonggi Province, as observed by world-leading corporations, include: central region of Korean industry, skilled and highly educated labour, massive population base and consumer market (an ideal test-bed environment), knowledge-based industry, excellent infrastructure, and active administrative support.

Gyeonggi Province provides foreign-exclusive industrial complexes at highly strategic points. These complexes offer outstanding accessibility, affordable rents, fast administration services, ideal infrastructure and much more. The province operates six complexes and is developing two more exclusively for the benefit of foreign-invested companies. These complexes are ideally situated in terms of logistics, human resources and knowledge-based industry clusters.

Moreover, a wide range of competitive and highly lucrative benefits are available to foreign firms that qualify for entrance. Support systems include the Management Assistance Support System for Foreign-Invested Companies, under which a pool of professionals and experts provide consultation services on a variety of issues including human resources, legal affairs, patents, accounting, taxation and labour free of charge or at low cost via the internet.

The ratio of net profit to sales among foreign-invested companies in South Korea is far higher than that of domestic companies. Moreover, the Korean subsidiaries of transnational corporations tend to be among their more profitable units, if not their most profitable.

The strengths and benefits that Gyeonggi Province and South Korea have to offer will lead you to the surest path to success.

FACT FILE

GYEONGGI AT A GLANCE

Area (2007)

10,183km

10.2% of gross national area (17 times larger than Seoul)

Area equivalent to 1/4 of Netherlands; 10 times Hong Kong

Population (2006)

11,106,831 residents

22% of total national population

Largest local government (Seoul is second with 10,356,000 residents)

Population equivalent to that of Belgium or Portugal

Economically active population: 5,454,000 (22.9% of national total)

GRDP (2005)

$158.7bn

Equivalent to rank 36th among 181 countries worldwide

Comparable to Argentina’s or Malaysia’s economic volume

GRDP growth rate: 7.1% (National average: 3.9%)

Provincial government budget (2007): Won28,800bn

20% of total national budget (Won143,700bn)

Trade balance (2006)

$3.4bn

Export: $63.2bn (13.6% year-on-year increase)

Import: $59.8bn (16.3% year-on-year increase)

Sponsored by Gyeonggi Province.