Lee Dong-hwan, Mayor of Goyang Special City, Meets with Ambassador Lee Seong-ho Jooindo

Introduction to Goyang Economic Free Zone Promotion... Discussion on Enhancing Korea-India Economic Cooperation
"India's Strengths in IT and Bio Industries... Linking Advanced Industry Development Strategies"

Lee Dong-hwan, Mayor of Goyang Special City, who visited India to attend the 2024 Korea Industrial Exhibition, held a meeting with Lee Seong-ho, Ambassador to India, at the Embassy of the Republic of Korea in New Delhi on the 21st to discuss ways to revitalize Korea-India economic cooperation.

Lee Dong-hwan, Mayor of Goyang Special City (right), who is visiting India, is meeting with Lee Sung-ho, Ambassador to India, on the 21st. Provided by Goyang Special City

Mayor Lee introduced, “Goyang Special City was selected as a candidate site for the economic free zone in northern Gyeonggi for the first time in 2022, and we are making every effort for the final designation next year. Once the Goyang Economic Free Zone is officially designated, it will be able to offer strong incentives to attract domestic and foreign companies, which is expected to create high-quality jobs and enhance urban competitiveness.”

Mayor Lee continued, “Through mutual cooperation between Korea and India, we anticipate fostering IT, bio, advanced manufacturing, and startup ecosystems, developing joint research and business models by sector, and providing customized support programs for Indian companies entering Korea and Goyang companies expanding into India.”

Ambassador Lee Seong-ho stated, “I hope this will be the starting point for a strong bond between Goyang Special City and India, and we will seek ways to grow together in various fields such as economy, culture, and education.”

As of 2023, India ranks 6th in the world with a GDP of $3.199 trillion and has achieved rapid growth with an economic growth rate of 7.6%. It is a major global economy with a huge market of over 1.4 billion people, showing particular strengths in various advanced industries such as IT, bio, and manufacturing.