GWANGJU < invest Korea

According to Yonhap News,

Gwangju-si signed an MOU on investment attraction with The Federation of Middle Market Enterprises of Korea (FOMEK) at City Hall on June 29.

This MOU is intended to attract middle market enterprises of the automobile and energy industries - Gwangju-si has been fostering them as a mainstay industry.

FOMEK is to cooperate in this endeavor by promoting technology policies and investment environment of Gwangju.

Gwangju-si is committed to making business-friendly environment and introducing relevant industry policies and companies ideal for cooperation.

The two will share information needed for investment attraction and identifying companies willing to make investment.

Gwangju's mayor said "we expect FOMEK to actively step up efforts to identify companies willing to invest and attract them by utilizing its existing network," adding "we will not spare efforts to support companies investing in Gwangju so that they can grow into globally competitive companies."

FOMEK was established in July 2014, representing middle market enterprises, and now has more than 710 members including Carrier and Kolmar.

Middle market enterprises are those greater than SMEs as prescribed by the Framework Act on Small and Medium Enterprises and do not belong to business group subject to limitation on cross-shareholding.

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Source:Yonhap News (June 29, 2021)