Investment Presentation in the Secondary Battery Sector of the Gwangyang Bay Area Core Strategic Industries
[Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik] The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sangrak, hereinafter Gwangyang Economic Authority) announced that on the 19th, it held the Korea-Germany Economic Outlook Forum (KGCCI Economic Outlook 2023) together with the Korea-Germany Chamber of Commerce and Industry at the Four Seasons Hotel in Seoul, conducting investment attraction activities targeting over 50 member companies.
The Korea-Germany Chamber of Commerce and Industry, established in 1981, has about 500 companies as regular members and performs tasks to promote economic exchanges with the Federal Republic of Germany.
Gwangyang Economic Zone Authority introduced the Sepung Industrial Complex, Hwanggeum Industrial Complex, Gwangyang Port hinterland, and Daesong Industrial Complex at the investment attraction briefing session. Photo by Gwangyang Bay Area Free Economic Zone Authority
The trade volume between Germany and Korea has increased to over 33.1 billion USD, and Germany's investment in Korea has reached 17.48 billion USD.
At the investment attraction briefing, the Gwangyang Economic Authority introduced the Sepung Industrial Complex, Hwanggeum Industrial Complex, hinterland of Gwangyang Port, and the recently completed Daesong Industrial Complex.
In particular, it focused on explaining the strengths of the secondary battery industry, where recent investment expansion has been made in core strategic industries such as cathode materials and battery materials, and also provided information on successful cases of foreign-invested companies and incentive systems.
A representative of the Gwangyang Economic Authority said at the workshop with companies, “The Gwangyang Bay Area offers favorable business conditions such as low rental fees for foreign-invested companies aiming to enter the global market by utilizing Korea's FTA platform, and recently it is re-emerging as an industrial hub related to secondary battery materials.”
Foreign-invested company representatives and executives attending the event showed great interest in the investment environment of the Gwangyang Bay Area, its geographical advantages, and successful cases of foreign-invested companies utilizing FTAs. The Gwangyang Economic Authority plans to invite companies interested in investment for an on-site inspection of the Gwangyang Bay Area in the future.
Asia Economy Honam Reporting Headquarters, Reporter Heo Seonsik hss79@asiae.co.kr
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