2024.10.02
AMCHAM Signs MOU with Goyang Special City to Facilitate Investment and Drive Economic Cooperation
Part of AMCHAM’s mission to position Korea as a premier business hub in APAC
and advance Goyang's vision of becoming a global “Self-Sufficient City'”
October 02, 2024 – The American Chamber of Commerce in Korea (AMCHAM Korea; Chairman & CEO James Kim) signed a Memorandum of Understanding (MOU) with Goyang Special City to facilitate investment and drive economic cooperation.
This MOU aims to support Goyang Special City’s vision of becoming a “Self-Sufficient City” by attracting investment from AMCHAM member companies and advancing AMCHAM's efforts to promote a fair business environment in Korea.
The signing ceremony was attended by AMCHAM Chairman & CEO James Kim, Goyang Special City Mayor Lee Dong-hwan, and representatives from AMCHAM member companies, including Energy X and Plug and Play. Through this agreement, both organizations agreed to establish a strong partnership to drive corporate investment and enhance collaboration between AMCHAM member companies and Goyang's economic sectors.
Emphasizing the significance of the collaboration, AMCHAM Chairman & CEO James Kim said, “We are thrilled to join forces with Goyang Special City to open new opportunities for our member companies and contribute to Goyang’s ambitious vision for economic development.” He continued, “AMCHAM and Goyang Special City are committed to building a robust partnership through this MOU. I look forward to working closely with Mayor Lee and his team to unlock new prospects, drive mutual growth, and contribute to Goyang’s emergence as a leading business hub.”
Mayor Lee Dong-hwan of Goyang Special City said, “With its extensive infrastructure, skilled workforce, and strategic geographical advantages, Goyang is working to establish a ‘Free Economic Zone’ spanning 17.7 square kilometers (5.35 million pyeong) as part of its vision to become a global “Self-Sufficient City.” Today’s agreement with AMCHAM will greatly contribute to the designation and development of this ‘Free Economic Zone.’”
He added, “Incentives for foreign-invested companies include exemptions from the Seoul Metropolitan Area Readjustment Planning Act for foreign investors and domestic companies returning to Korea, a five-year customs duty exemption, as well as reductions in property and acquisition taxes.”
This MOU is part of an ongoing series of agreements AMCHAM has made with local governments in Korea pledging to promote partnerships and collaboration with global companies investing in Korea. AMCHAM has signed an MOU with Hwaseong City, Suwon Special City, Paju City, and Incheon City.
###
주한미국상공회의소, 고양특례시와 투자유치 촉진 및 경제협력 강화 위해 MOU 체결
한국의 아·태지역 제1의 비즈니스 허브 미션 실현과 고양특례시 글로벌 자족도시 건설 가속화 조성 지원 약속