Gyeonggi Province Governor Kim Dong-yeon will continue his 'broad' economic activities by visiting the American and European Chambers of Commerce in Korea in early 2025 and attending the economic Olympics, the Davos Forum. This is based on the judgment that the economic situation in South Korea, triggered by martial law, is not easy.
Governor Kim plans to first visit the American Chamber of Commerce in Korea (AMCHAM) and the European Chamber of Commerce in Korea (ECCK) consecutively tomorrow (the 8th) to request active corporate activities and investments in Korea.
Governor Kim will meet James Kim, AMCHAM Chairman, around 2 p.m. that day. Chairman James Kim has worked at global companies such as GM Korea and Microsoft Korea, and since 2014, he has served as the first Korean-American chairman of AMCHAM, acting as an economic bridge between American companies and Korea. In addition to Chairman James Kim, representatives of American companies (AMCHAM member companies) from various fields such as semiconductors, bio, and eco-friendly automobiles will also attend the meeting.
Founded in 1953, AMCHAM has about 800 American and Korean member companies and is the oldest chamber of commerce in Korea.
Governor Kim will then visit ECCK to meet with Chairman Philip Van Hoof.
ECCK is an association of European and Korean businesspeople with about 400 member companies and has 18 industry committees including automotive, cosmetics, and energy. Philip Van Hoof, a Belgian national, is a former banker who served as the head of ING Bank Korea and the head of ING Asia-Pacific financial institutions.
On the 9th, Governor Kim will visit ON Semiconductor Korea in Bucheon, Gyeonggi Province, to meet CEO Kang Byung-gon and discuss cooperation plans to create a stable investment environment.
ON Semiconductor Korea completed a state-of-the-art research center and manufacturing facility for next-generation non-memory power semiconductors in Bucheon in October 2023, equipped with the world's largest advanced facility capable of manufacturing over one million 200mm silicon carbide (SiC) wafers annually. The ON Semiconductor Group plans to invest 1.4 trillion KRW in Bucheon this year.
Governor Kim will continue his economic activities next week by convening an emergency economic meeting.
Later this month, he will attend the Davos Forum (World Economic Forum), known as the economic Olympics, for the second consecutive year. Klaus Schwab, Chairman of the WEF, officially invited Governor Kim earlier.
Kang Min-seok, spokesperson for Gyeonggi Province, said, "With the imminent inauguration of U.S. President Trump, high tariff barriers and tariff bombs that will inevitably impact our exports are forecasted. Nevertheless, the domestic political uncertainty triggered by President Yoon Seok-yeol has not cleared, and Governor Kim, recognizing this as a serious situation, plans to continue his economic activities for the time being."
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