Suwon City Signs $48 Million Investment LOIs with Seven Hong Kong Companies

Suwon City in Gyeonggi Province held an investment attraction briefing for Hong Kong companies regarding the Suwon Free Economic Zone.

On the 21st, Suwon City announced that it organized an investment attraction briefing at the Ritz-Carlton Hotel in Hong Kong, attended by Patrick Lau, Deputy Executive Director of the Hong Kong Trade Development Council, Andrew Tsui, Deputy Director-General, and representatives from 25 local Hong Kong companies specializing in advanced technologies in fintech, bio, and artificial intelligence (AI).

At the briefing, Suwon City signed Letters of Intent (LOIs) for investments totaling 48 million dollars (approximately 70.5 billion won) with seven companies, including LaserVal Technology Co., Ltd. (laser equipment), Tidetrone Bio (bio), and Caresia (AI-based bio).

Lee Jaejun, Mayor of Suwon, is speaking at an investment attraction briefing held on the 21st (local time) at the Ritz-Carlton Hotel in Hong Kong. Provided by Suwon City

Suwon City plans to maintain ongoing communication with the companies that participated in this Hong Kong briefing to continuously secure investment intentions for the Suwon Free Economic Zone.

Lee Jaejun, Mayor of Suwon, stated, "We plan to focus on attracting advanced technology research institutes in fields such as artificial intelligence (AI), semiconductors, and bio to the Suwon Free Economic Zone," adding, "We are also preparing customized investment packages for foreign companies at the local government level."