Gwangyang FEZ Authority to Attract Global Advanced Companies in Europe

Visiting Austria, Germany, and Switzerland
to Discuss Investment Cooperation

The Gwangyang Bay Area Free Economic Zone Authority (headed by Koo Chungon, hereafter referred to as Gwangyang FEZ Authority) announced on September 12 that it will visit Austria, Germany, and Switzerland from September 15 to 22 to discuss investment cooperation with leading global companies and institutions.

This investment promotion activity is part of the Korea Trade-Investment Promotion Agency (KOTRA)'s foreign investment attraction cooperation project, aiming to attract investments from European companies leading in logistics, smart mobility, AI, and advanced machinery. Gwangyang FEZ Authority plans to strengthen its investment base through collaboration with local innovative companies and secure a foothold to respond to the restructuring of global supply chains.

Gwangyang FEZ Authority to Attract Global Advanced Companies in Europe

A panoramic view of the Gwangyang Bay Area Free Economic Zone Authority.

The companies to be visited include Gebr?der Weiss, a global logistics company; Kapsch TrafficCom, a developer of intelligent transportation systems; AMS Osram, a leader in optical technology and semiconductor lighting; AVL, which specializes in electric vehicle drive systems and vehicle simulation technology; the Munich Chamber of Commerce and Industry, which has over 12,000 member companies; MotionsCloud, an AI solutions company; and List Technology, a major player in the field of plastic material mixers.

Gwangyang FEZ Authority plans to focus discussions with each company on the potential for investment in South Korea. In particular, List Technology already operates an Asian technology center in South Korea, making the possibility of follow-up investments high.

Koo Chungon, head of the authority, stated, "Europe is a region leading in renewable energy and advanced industries, and there are many points of contact with Gwangyang Bay Area's future strategic industries. Through this business trip, we will solidify cooperation with global companies and elevate the Gwangyang Bay Area to become the top investment hub in Northeast Asia."