‘International Investment Attraction Forum’ UK, China, Germany Foreign-Invested Companies
'Mobility, AI, Energy' Industry Strengthening and Job Creation Expected
Gwangju Mayor Kang Gi-jung attended the '2024 International Investment Attraction Forum' held on the morning of the 29th at the Kim Dae-jung Convention Center in Seo-gu and took a commemorative photo with guests. Provided by Gwangju City
On the 29th, Gwangju City signed an investment attraction agreement worth 5.82 million dollars with three foreign-invested companies at the Kim Dae-jung Convention Center.
At the ‘2024 International Investment Attraction Forum,’ Gwangju Mayor Kang Gi-jung signed investment agreements (MOU) with three foreign-invested companies: VSS Global from the UK, Lirik Robot from China, and Motions Cloud from Germany. These companies are global enterprises from the UK, China, and Germany, respectively, operating in the fields of mobility, energy, and artificial intelligence (AI).
According to the agreement, Gwangju City achieved an investment attraction result of 5.82 million dollars. This investment is expected to lead to the establishment of joint foreign-invested corporations in the region and create about 100 new jobs.
‘VSS Global’ is a newly established foreign-invested corporation jointly founded by the UK company ‘Vital Seating & Systems Ltd.,’ which possesses proprietary technology in shock-absorbing protective seats, and ‘CM Tech,’ a Gwangju-based company specializing in manufacturing automotive seats.
The Chinese global battery equipment company ‘Lirik Robot’ will make an in-kind investment of production equipment at the secondary battery cell pilot manufacturing plant (Energy Valley Industrial Complex Smart Energy Industry Zone) being constructed by the local company ‘Magnetec.’ The city expects this investment to contribute to the development of the energy industry in the Gwangju region. It is anticipated that the combination of Lirik Robot’s technology and Magnetec’s expertise in next-generation battery production will create a synergistic effect.
The global company ‘Motions Cloud,’ an AI-based damage inspection solution company headquartered in Leipzig, Germany, plans to relocate and expand its Korean branch from Seongnam to Gwangju. Motions Cloud will leverage Gwangju’s excellent AI convergence infrastructure, including the AI data center and demonstration equipment, to expand its business in Asia. The city aims to enhance the Gwangju AI industry ecosystem’s synergistic effects through agreements with promising foreign technology companies.
With the support of this investment attraction activity, the city plans to contribute to revitalizing the local economy and creating jobs, and will continue to actively attract investments from global companies to strengthen the advanced industry ecosystem and expand its global network.
Mayor Kang stated, “We will grow Gwangju’s jobs and industries together with companies,” adding, “We will actively support investments in Gwangju, settling in Gwangju, and growing significantly in Gwangju.”
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