North Gyeongsang Province, Gyeongju partner with KAPEA to attract global investment

From left: Gyeongju Deputy Mayor Song Ho-jun, North Gyeongsang Province Vice Gov. for Economic Affairs Yang Geum-hee and Korea Asia-Pacific Economic Association Chair Ji Young-mo hold signed memoranda of understanding during a photo session at the signing ceremony in Seoul on Friday.

North Gyeongsang Province and Gyeongju signed a memorandum of understanding with the Korea Asia-Pacific Economic Association on Friday to co-host a global investment forum later this year.

The signing ceremony, held in Seoul, was attended by Yang Geum-hee, vice governor for economic affairs of North Gyeongsang Province; Song Ho-jun, deputy mayor of Gyeongju; and Ji Young-mo, chair of the association.

Over 30 economic and diplomatic figures participated in the event, including officials from the Chinese and Vietnamese embassies in Korea.

The investment forum is scheduled for Nov. 27-28 and is expected to present new investment opportunities for the region in light of the global economic landscape following the APEC summit in October.

Under the agreement, the three parties pledged cooperation in global investment trend analysis and information exchange, overseas expansion of small and medium-sized businesses in the region, support for attracting foreign and reshoring companies, youth employment and entrepreneurship programs, and international cultural exchanges.

“This agreement will serve as a stepping stone for North Gyeongsang (Province) to become a global hub for strategic industries and cutting-edge technologies,” Yang said during the ceremony.

Song emphasized Gyeongju’s growth potential. “Gyeongju holds great promise in next-generation industries such as (small modular reactors), energy, mobility and cultural tourism. We will actively support local companies' overseas expansion and strengthen the foundation for future growth industries,” he said.

Ji said the association would leverage its Asia-Pacific network to support the partnership. “Through this post-APEC event, we will help the region present a new model of international investment cooperation.”