KOTRA Collaborates with Hanam-si to Revitalize Local Economy

Signing of Business Agreement for Trade and Investment Promotion
Kickoff for Attracting Global Companies and Overseas Market Expansion in Hanam-si

Panoramic view of Hanam City.
Photo by Asia Economy DB

[Asia Economy Reporter Han Ye-ju] KOTRA announced on the 24th that it signed a business agreement with Hanam City at its headquarters in Yeomgok-dong to "revitalize the local economy through trade and investment promotion."

The main contents of the business agreement include ▲exchange of data and information on trade and investment trends ▲promotion of cooperative projects for the overseas expansion of Hanam City companies ▲collaboration in discovering and promoting joint cooperative projects such as business exchanges for attracting foreign investment in Hanam City and dispatching investment attraction delegations.

Hanam City is expected to reach a population of 400,000 by 2028 due to recent population inflows. However, due to the large proportion of development-restricted areas within Hanam City, there are many limitations on natural development. Accordingly, Hanam City plans to expand a regional industrial base with self-sufficient functions within the region.

To this end, it plans to develop K-Star World (Hallyu Culture Video Complex) in the Misadong area along the Han River waterfront, the Gyosan New Town, and the Camp Colbern U.S. military return site, and attract suitable domestic and foreign companies and investors to these areas.

In addition, KOTRA plans to contribute to revitalizing the local economy by comprehensively supporting the overseas expansion of local companies and attracting investments from global companies through 36 investment attraction trade offices among 128 overseas trade offices operating in 83 countries worldwide.

Lee Hyun-jae, Mayor of Hanam City, said, "Through this agreement, I hope KOTRA will become a reliable partner for Hanam City companies in overseas expansion by sharing policies and information for industry, companies, and investment attraction."

Yoo Jung-yeol, President of KOTRA, emphasized, "We will actively promote joint cooperative projects such as discovering global investors needed by our local governments and supporting the overseas expansion of local companies by utilizing KOTRA's overseas network."