South Gyeongsang Province Launches 3rd Investment Attraction Advisory Committee ... to Support New Economic Leap

South Gyeongsang Province, which has secured 10 trillion won in investment for two consecutive years, has officially launched its 3rd Investment Attraction Advisory Committee and begun fleshing out investment attraction strategies to help the province's economy take a new leap forward.

South Gyeongsang Province said on October 23 that it had launched the 3rd Investment Attraction Advisory Committee and held a plenary meeting to discuss investment attraction strategies and ways to cooperate.

Members of the Gyeongsangnam-do Investment Promotion Advisory Committee pose for a commemorative photo marking the launch of its third term. [Photo courtesy of Gyeongsangnam-do Province]

Seventeen advisory committee members and key provincial officials, including Governor Park Wan-soo and Deputy Governor for Innovation and Growth Choi Manrim, attended the plenary meeting held on October 23 in the provincial government building's conference room.

At the meeting, Deputy Governor for Innovation and Growth Choi Manrim said, "If the previous, 2nd advisory committee laid the groundwork for securing 10 trillion won in investment for two consecutive years, we expect the newly launched 3rd advisory committee to help South Gyeongsang Province's economy take another leap forward with its extensive expertise and fresh perspectives."

He added, "Attracting investment means connecting promising companies with South Gyeongsang Province and ensuring that their investments lead to regional growth and jobs. If committee members actively share changes in companies and industries that they encounter in the field, as well as new investment opportunities, we will incorporate their input into provincial policies and support efforts to turn it into tangible investment results."

Choi Manrim (center), Vice Governor for Innovation and Growth, speaks at a plenary meeting of the 3rd Gyeongsangnam-do Investment Attraction Advisory Committee. [Photo provided by Gyeongsangnam-do]

On October 22, the committee members attended the Sacheon Airshow and the Global Aerospace & Defense Exhibition (GADEX). On October 23, they visited Doosan Enerbility's Changwon site and toured its major production facilities. Through these visits, they examined the foundations of South Gyeongsang Province's aerospace, defense and nuclear power industries, as well as companies' technological capabilities and investment conditions.

At the plenary meeting on October 23, the committee presented appointment plaques to newly appointed members, reported on the 3rd committee's operating plan, shared information on South Gyeongsang Province's investment attraction results and strategies, introduced tourism investment sites in the province, and held consultations and discussions by sector.

The South Gyeongsang Province Investment Attraction Advisory Committee was established with the launch of the 8th popularly elected provincial administration. Over the past four years, it has held 22 meetings, shared investment trends and industry-specific information, and advised on strategies to attract investment from domestic and international companies.

Hwang Gakkyu, chairman of the 3rd Gyeongsangnam-do Investment Attraction Advisory Committee, speaks at a plenary meeting. [Photo provided by Gyeongsangnam-do]

The newly launched 3rd advisory committee consists of 29 experts in fields including the economy, finance, industry, defense and law.

In particular, the committee has expanded its roster of hands-on experts in new industries, defense and aerospace to respond to the reorganization of global supply chains and changes in the investment environment centered on advanced industries.

Hwang Kakgyu, who previously served as an adviser and vice chairman of LOTTE Corporation, has been reappointed as committee chair. He is also chairman of the Korea Tire Industry Association.

Chair Hwang said, "We will bring together the committee members' extensive field experience and networks to serve as a bridge for investment and offer effective policy proposals, helping South Gyeongsang Province become a leading investment destination in South Korea."

South Gyeongsang Province plans to maintain ongoing communication with the 3rd advisory committee members, flesh out investment attraction strategies for key industries and future advanced industries, and strengthen support from identifying promising companies through to the execution of actual investments by drawing on the members' expertise and networks.

The province also plans to establish three subcommittees - Future Growth Industries; Key Industries; and Tourism, MICE (meetings, incentives, conventions and exhibitions), Policy and Trends - to develop investment attraction strategies for each field.

This content was produced with the assistance of AI translation services.