GANGWON-DO < invest Korea

According to Yonhap News,

(CHUNCHEON = Yonhap News) The Gangwon Province announced on March 31 that more than 200 companies have promised to participate in the 2nd Greater Tumen Initiative (GTI) International Trade & Investment EXPO 2014.

The GTI is an intergovernmental cooperation mechanism among four countries: Korea, China, Russian Federation and Mongolia. Gangwon will hold the EXPO between October 23 and 26 at the Gangneung indoor sports stadium.

About 200 companies including the China Japan Korea Enterprise Promotion Committee and other companies from China’s Jilin Province, Inner Mongolia, Heilongjiang Province, Hunan Province, Russia’s Maritime Province, Sakha Republic, Japan’s Tottori Prefecture and more will participate in the fair.

In particular, the Mongolian National Chamber of Commerce and Industry organized a large-scale trade mission for the fair. Many global businesses and economic organizations are showing their interests in participating in the EXPO.

China Enterprise Confederation, the largest economic organization in China, will send 50 business representatives, and SCI Holdings, which submitted a KRW 2 trillion business plan to establish a China Dream City in the Gangwon Province, will send 100 business representatives to the EXPO.

As the EXPO gains the international attention, the province is set to prepare various events.

To help participating companies expand the markets, the province will invite 500 foreign buyers to the fair.

Last year, the province conducted a survey on companies within the region to apprehend demand for buyers, and it plans to start to introduce the buyers to the companies in advance the fair as soon as it finishes invitation of domestic companies.

The province invites domestic buyers to match with foreign companies that seek to advance into the Korean market.

The primary purpose of the EXPO is to maximize effects of the trade and investment on the province.

The province will hold various trade and investment fairs, investment promotion sessions and the World Korean Business Convention, and promote the East Sea Free Economic Zone, Alpensia, 2018 Pyeongchang Winter Olympics and the tourism industry.

The EXPO is expected to be the festival of the Northeastern region that will promote regional economic cooperation.