Q: A lot of large domestic companies are rushing to Chungbuk. Could you explain the reason why
A: As you mentioned above, we have succeeded in attracting 41 domestic companies. Among these companies, the wellknown companies are Hynix Semiconductor, SK Chemical, Hyundai Heavy Industries and Korea Iron & Steel. In particular, in case of the worldwide Hynix Semiconductor, its investment amounts to 8.70 trillion Korean won (US$9.36 billion), the largest investment amount per unit business project in Korea, creating new jobs of 8,000. The key word of our provincial government is a "business mind," and we are doing our best to provide the most favorable investment environment, creating the atmosphere of honoring businessmen. In addition, our wonderful traffic and logistics system is playing a critical role to the business community.
Q: Chungbuk has also succeeded in attracting foreign capital. Could you explain the reasons for your success
A: In an effort to attract more foreign capital, we have tried to establish an investment network through AMCHAM members, foreign trade centers, overseas cluster management agencies, and global banking and fund organizations. As a result, we have succeeded in inducing foreign capital of US$350 million including three US companies whose investments stand at US$150 million. Among these foreign companies, the typical companies are: VGX making researches on biological products and producing medicines, Avanti NanoScience producing advanced nanotechnology devices, Stack Pole producing many high-tech auto parts, and CVRD INCO, the maker of environmentally friendly materials. Most companies are composed of biotechnology companies or high-tech ones. Moreover, Ochang Park has prepared an exclusive foreign investment zone of 805,955 square meters and O-song Park has arranged an exclusive foreign investment zone of 301,709 square meters. Because of these special economic zones, more foreign investors are expected to rush to Chungbuk.
