Gyeonggi Province has attracted an investment worth 2.2 trillion KRW from Kia.
On the 6th, Gyeonggi Province announced that Kia will build the country's largest multi-purpose base vehicle (PBV) electric vehicle dedicated factory (EVO Plant) in Hwaseong City, covering an area of 290,000㎡ (88,000 pyeong).
PBVs are vehicles designed and manufactured to perform specific purposes or functions such as logistics delivery, passenger transport, and leisure. The interior space can be freely configured by changing all seats and storage spaces except the driver's seat, allowing for diverse uses including vehicles for the disabled that guarantee mobility rights, camping cars, taxis, delivery vehicles, and mobile stores.
Kim Dong-yeon, Governor of Gyeonggi Province, attended the 'Investment Agreement Ceremony for Creating a PBV-based Future Mobility Ecosystem' held at Autoland Hwaseong on the same day. He told reporters, "It is very meaningful that Kia has decided to invest 2.2 trillion KRW to build a factory in Hwaseong, Gyeonggi Province today," adding, "Despite difficult circumstances and various trade pressures in the Trump 2.0 era, attracting domestic investment is very pleasing for both Gyeonggi Province and Hwaseong City, and Kia has made a significant decision."
He continued, "In the challenging international economic environment, by leading substantial investments, Gyeonggi Province is determined to contribute greatly not only to the regional economy but also to revitalizing the South Korean economy and creating domestic jobs," he added.
Regarding U.S. President Trump’s mention of reciprocal tariffs on Korea, Governor Kim said, "Tariff pressures are becoming increasingly real. There are significant concerns due to the policy and leadership vacuum at the central government level, but Gyeonggi Province has already proposed establishing an export safety net for Korea’s export industries and companies," and urged, "I hope the central government responds promptly to my proposal for building the export safety net."
Gyeonggi Province Governor Kim Dong-yeon is taking a commemorative photo after signing an investment attraction agreement worth 2.2 trillion won with Kia in Hwaseong on the 6th. Photo by Gyeonggi Province
He went on, "This month, Gyeonggi Province will send a trade investigation team to the United States, starting with Georgia," and explained, "Gyeonggi Province plans to prepare various measures independently to protect its export industries and companies."
Furthermore, he stated, "Yesterday, I advocated for an economic grand coalition and proposed five big deals. These include fundamental structural reforms of the Korean economy and simultaneous responses to worsening domestic and international economic conditions," adding, "This is a proposal for the ruling and opposition parties, labor and management, and politics and administration to reach a social grand compromise to find new avenues for our economy. I hope the political circles will join magnanimously."
He also emphasized, "Now is not the time for politics but the time for the economy. Once the fog of political uncertainty clears, the difficult economic situation and hardships faced by the people will be fully revealed," and stressed, "I hope the political circles unite to revitalize the economy and improve the livelihoods of the people."
Meanwhile, at the agreement ceremony, Governor Kim said, "It is very reassuring that Kia is leading the future mobility business through the popularization of electric vehicles and autonomous driving," and introduced, "Gyeonggi Province has shown interest in the mobility business, invested in it, and established a strong industrial foundation. Even the provincial government office has created a department for advanced mobility industries and is implementing projects to foster future advanced industries."
With this investment attraction, Governor Kim has taken one step closer to achieving the promised 100 trillion KRW investment attraction goal.
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