Gyeonggi Business Center to open in Bengaluru this October

○ Gyeonggi Province Governor Dong Yeon Kim met with representatives of leading Indian economic organizations and companies on July 3. -...

○ Gyeonggi Province Governor Dong Yeon Kim met with representatives of leading Indian economic organizations and companies on July 3.
- Bengaluru, a hub city for India's largest future growth industries, was chosen as a new location for a Gyeonggi Business Center (GBC) branch.
- The Gyeonggi Business Center in Bengaluru showcases international diplomatic achievements between Gyeonggi Province and the Government of Karnataka State .
○ Governor Kim welcomed by officials of Karnataka State, located approximately 2,500 kilometers south of New Delhi.
○ Governor Kim also met with representatives of Korean companies operating in India, including Hyundai Motor, Shinhan Bank, and POSCO.

In October, Gyeonggi Province will establish the Gyeonggi Business Center (GBC) branch in Bengaluru, India, as a local office to support exporting and marketing by Gyeonggi small and medium-sized enterprises.

Bengaluru is the capital city of Karnataka State. Located in southern India, Karnataka has an area approximately twice the size of South Korea, spanning 191,791 square kilometers, with a population of 69.37 million. It is highly regarded for its research and manufacturing base in future industries such as automobiles, biotechnology, aerospace, and medical devices.

Last year, Gyeonggi Province began searching for a new location for the establishment of a Gyeonggi Business Center branch; in March this year, the province received an expression of interest from Karnataka State, which sought cooperation with domestic companies. Following a selection committee review and on-site inspections, Bengaluru was ultimately chosen for the new GBC branch location. The Gyeonggi Business & Science Accelerator (GBSA) plans to secure office space and aims to open the Gyeonggi Business Center in Bengaluru this October.

Gyeonggi Business Center branches serve as bases that support exports by Gyeonggi Province's small and medium-sized enterprises while also functioning as springboards for overseas expansion. GBC branches currently operate in 12 locations in 9 countries: India (Mumbai), Russia (Moscow), Malaysia (Kuala Lumpur), the United States (Los Angeles), Vietnam (Ho Chi Minh City), Kenya (Nairobi), Iran (Tehran), Thailand (Bangkok), and China (Shanghai, Xi'an, Guangzhou, Chongqing).

During his meetings, Gyeonggi Province Governor Dong Yeon Kim discussed expectations for the India International Exhibition Convention Centre and the Gyeonggi Business Center in Bengaluru, as well as cooperation in future industries such as mobility and biotechnology, collaboration intentions for other industries such as agriculture and manufacturing, and the activation of social economy.

Governor Kim said, "Gyeonggi Province accounts for 27% of the total population of South Korea, and is the heart of all industries, including semiconductors, biotechnology, IT, and advanced mobility… I hope Gyeonggi Province and India can upgrade their friendly relations. I want us to become friends while understanding each other's culture, history, and various national sentiments."

Governor Kim also met with representatives of Korean companies operating in India at a New Delhi hotel on the morning of July 4, local time. The represented companies included Hyundai Motor, Shinhan Bank, POSCO, Asiana Airlines, GS Construction, Lotte Fine Chemical, SK hynix, Krafton, Jayworld, Yusin Engineering, IRANTEX, KNJ Logistics, and KG Steel.

The company representatives discussed local concerns such as climate change response, financing methods, complex regulations, trade issues arising from India's protection of domestic industries, and instability caused by worsening India-China relations, as well as future growth strategies in the vast Indian market.

Governor Kim observed, "India is an extremely important strategic partner for Korea as we celebrate the 50th anniversary of diplomatic relations… It is a country with great potential, but Korea’s awareness of India is lacking. To enhance our cooperative relations with India, we will continue to promote deep understanding and communication in terms of culture, history, and national sentiment."