Gyeonggi Province's Game-Changing European Tour: Boosting Semiconductor Partnerships and Attracting High-Tech Investments

Following a successful U.S. visit where he secured KRW 2.1 trillion in investments, Gyeonggi Province’s Governor Dong-yeon Kim has embarked...

Following a successful U.S. visit where he secured KRW 2.1 trillion in investments, Gyeonggi Province’s Governor Dong-yeon Kim has embarked on an ambitious European tour. The focus: enhancing global semiconductor collaborations and securing investments in advanced industries.

From October 27 to November 2, the Gyeonggi delegation set out to build a robust platform for Korean companies in the European market, particularly in Austria and the Netherlands. Here’s a closer look at the tour’s milestones and its significance for Gyeonggi Province’s future.

October 28: First Day in Vienna, Austria
The tour began in Vienna, where Governor Kim met with Martin Kocher, the Austrian Minister for Labor and Economy. They discussed ways to expand collaborations between small and medium enterprises (SMEs) in both regions, focusing on four key sectors: electric vehicle components, pharmaceuticals and biotechnology, renewable energy, and the beauty industry. Governor Kim assured full administrative support for Austrian "hidden champion" companies interested in expanding into Gyeonggi Province. Minister Kocher responded positively, emphasizing Austria’s eagerness to facilitate business partnerships through forums and collaborative channels. Notably, companies like Engel in Pyeongtaek, Fronius in Dongtan, and Palfinger in Pangyo have already established operations in Gyeonggi Province, contributing to job creation and economic value.

October 29: Showcasing Gyeonggi at the World Korean Business Convention
On day two, Governor Kim attended the World Korean Business Convention, highlighting his vision for a people-centered economy, or “Humonomics.” Emphasizing “opportunity, balance, and trust,” he spoke on transforming Korea’s economy towards a model focused on people rather than pure growth. His approach harmonizes the “New ABCs” (Aerospace, Biotechnology, Climate Technology) with the “Old ABCs” (Artificial Intelligence, Batteries, Semiconductors) to create an inclusive framework for economic progress..

October 30: Semiconductor Diplomacy in the Netherlands
On October 30, Governor Kim visited the ASML headquarters in the Netherlands, where he engaged in discussions with Wayne Allen, Chief Strategic Product Officer, and other key executives. Together, they explored the potential for enhanced investment cooperation, emphasizing the rapid growth of Gyeonggi’s semiconductor cluster. ASML, a global leader in semiconductor manufacturing equipment, reaffirmed its commitment to investment in Gyeonggi Province, particularly in cities like Hwaseong City, furthering a mutually beneficial collaboration for advancing the semiconductor industry.

Following this, the Gyeonggi delegation visited North Brabant, a hub for advanced industries in the Netherlands. There, Governor Kim and Ina Adema, Governor of North Brabant, signed a Memorandum of Understanding (MOU) solidifying a Gyeonggi-North Brabant partnership, especially in semiconductors. This "Innovation Alliance" will foster collaboration across five areas: advanced industries, climate technology, smart agriculture, youth and cultural exchanges. The two regions agreed to establish working-level channels to develop specific projects and reinforce their strategic ties.

October 31: Growth Agreement with ASM
On the final day, October 31, Governor Kim visited ASM’s headquarters in Almere, Netherlands, and signed an agreement with CEO Hichem Elmsaid. The deal allows Gyeonggi-based companies to continue supplying semiconductor deposition equipment parts to ASM, expected to generate significant revenue annually and serve as a global launchpad for local SMEs.

The ASM agreement also includes job opportunities and training for Gyeonggi residents and graduates, as well as internships with local universities, further supporting the region’s semiconductor talent pipeline. CEO Elmsaid expressed his appreciation for Governor Kim’s commitment, noting that this collaboration would significantly benefit Gyeonggi’s semiconductor ecosystem.

Reflecting on Gyeonggi’s European Tour Success
This European tour has set the stage for Gyeonggi Province to cement itself as a global hub for advanced industries, including semiconductors, while offering new avenues for local SMEs and startups. By building strategic alliances with Europe’s top players, Gyeonggi Province is poised to drive innovation and economic growth.

Gyeonggi Province remains dedicated to creating new opportunities worldwide, transforming into a thriving center for both regional prosperity and global engagement. The journey is just beginning, as Gyeonggi advances its mission to build an economically vibrant future!

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