The Gwangyang Bay Area Free Economic Zone (GFEZ) carried out activities to attract investments in Tokyo and Osaka from Feb. 18 to Feb. 22.
GFEZ’s investment attraction delegation participated in Smart Energy Week, which took place in Tokyo from Feb. 19 to Feb. 21, and carried out activities to attract investments.
GFEZ held one-one-one consultation talks with potential investment companies, strengthened networking with local company officials and explored investment opportunities as part of efforts to expand investments in the secondary battery and energy sectors.
The delegation visited Central Glass, a Japanese secondary battery material production company, and had a session to explain a plan to build a secondary battery cluster complex in the Gwangyang Bay area and recommend its additional investments. GFEZ delegates took stock of the progress of collaboration projects between Korea and Japan.
They also discussed the possibility of cooperating in the battery, EV and renewable energy sectors.
The delegation, which toured Osaka, held prior meetings with KOTRA’s trade office in the city to discuss investment attraction activities in conjunction with Expo 2025 Kansai Osaka Japan, to be held in April.
Officials of the Gwangyang Bay Area Free Economic Zone (GFEZ) are engaged in activities to attract investments in Tokyo and Osaka from Feb. 18 to Feb. 22.
The delegations also explored the possibility of building logistics hubs and potential cooperation while touring Japan’s representative agricultural machinery and heavy equipment makers.
During the visit, GFEZ, stressing itself as a global hub for the secondary battery, renewal energy and advanced material industries, promoted optimal conditions for investing in the Gwangyang Bay area.
The delegation introduced industry complex infrastructure in areas, such as Saepung and Hwanggeum, and construction conditions of the secondary battery development concentration center as well as tax benefits to attract Japanese’s concern.
GFEZ Commissioner Koo Chung-gon said, “The latest investment attraction bid has served as an opportunity to expand collaboration with promising companies in the global energy sector via 2025 Smart Energy Week, Japan’s largest fair, and have the Gwangyang Bay area known as a growing cluster of the secondary battery and renewal energy industries. We will strive to attract excellent foreign companies in the Gwangyang Bay area by consultating with foreign companies with potential interest.”
Meanwhile, GFEZ aims to attract investments worth 2.2 trillion won, bringing in 30 companies and creating 1,300 jobs this year.
The GFEZ made a feat of attracting investments worth 2.7 trillion won from 33 companies, a record, last year.
The figure represents a 225 percent jump over the previous year’s 1.2 trillion won.
The best-ever achievement was made since the opening of the GFEZ in 2004.
GFEZ Accelerates Efforts to Attract FDIs in Advanced Materials and Data Industries
GFEZA has accelerated efforts to establish strategies to attract foreign direct investments in the advanced materials and data industries.
GFEZA is to hold meetings with related organization officials by visiting major industrial complexes in the area, along with institutions in charge of a consulting service on attracting of FDIs, supported by KOTRA between Feb. 17 and Feb. 21.
GFEZ was selected as the sole winner of the consulting service project, commissioned by KOTRA last July.
The project calls for exploring foreign would-be investment companies related to core materials and data industries based on industry conditions of the Gwangyang Bay area and profit analysis and establishing optional investment strategies.
The commissioned companies plan to hold meetings with industry, academia and research institute officials and establish detailed investment attraction models by having an in-depth analysis into regional industry condition.
GFEZ plans to suggest investment proposals tailored to would-be potential investment companies to bear fruit.
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