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2013 Feb IK Bulletin

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02 New Investors Monthly News 03 FOREIGN COMPANY NEWS Company Nation Sector a e r o Siemens Establishes Asia HQ for Energy K c i r B.A.K. HOLDINGS LIMITED Canada Wholesale, retail (distribution) t Solution in Korea c e l E GN RESOUND A/S Denmark Machinery, equipment s p l The German electrical A f AIR LIQUIDE INTERNATIONAL France Chemical o engineering company y s e t ESSILOR INTERNATIONAL S.A France Chemical r Siemens will establish the u o HAWA HYDRAULIK SE Germany Machinery, equipment Asia headquarters of its Energy Solution Business in Korea and foster C world-class engineers, announced Kim Jong-kap, CEO and Chairman The aim of the R&D center is to further strengthen functions for DAIMLER AG Germany Financials, insurance of Siemens Korea, last month. developing products for the automotive market and stimulate R&D relat- FOSUN INDUSTRIAL CO., LIMITED Hong Kong Wholesale, retail (distribution) ed to next-generation modules for the consumer market. The facility is Siemens’s Energy Solution Business provides a variety of power expected to make advancements in the development of switches, mod- REX PLAZA LIMITED Hong Kong Electricity, electronics supply solutions including gas-fueled, combined cycle and coal-fired ules and sensors for incorporation into vehicles, as well as input devices TRUESTAND LIMITED Hong Kong Business service power plants and offers comprehensive turnkey solutions. and communication modules for the home and mobile segments. MAHINDRA & MAHINDRA LIMITED India Transportation machinery The Asia headquarters in Korea will be responsible for projects in the “Our continued investment promotion efforts made Alps Electric SECURESOFT INC. Japan Business service Asia-Pacific region and the Middle East. It will focus on improving Korea decide to build an R&D center in the city. We expect that the customer service and strengthening each market. By establishing its growth of the company and the relevant industry will help Gwangju MAKINO MILLING MACHINE CO., LTD. Japan Business service Asia headquarters in Korea, Siemens expects to recruit 500 workers. become an automobile manufacturing base of Korea,” said a municipal JAPAN TRUSTEE SERVICES BANK, LTD. Japan Financials, insurance Siemens will first hire 100 employees, including professionals from official. SEGA SAMMY HOLDINGS INC Japan Food, accommodations overseas, and increase the number to 500 by 2017, according to Kim. WHITEHOUSE CO., LTD Japan Transportation machinery Korea was selected as the location for the Asia headquarters for its IK NEWS NIHON PACKAGE CO., LTD Japan Paper, lumber efforts to improve its business environment, free trade agreements with the EU, the United States and other countries, its highly competitive SECOM CO., LTD Japan Business service construction companies and outstanding human resources. Invest KOREA Launches Young SOFTBANK CORP. Japan Financials, insurance Ambassador Program MINEBEA CO., LTD. Japan Electricity, electronics Renault Samsung Motors Design Center KDDI CORPORATION Japan Business service to Lead Design Projects in Asia EXIMBAY CO., LTD. Japan Business service Renault Samsung Motors announced in April that its design center NOVARESE INC Japan Food, accommodations has been upgraded in status to and renamed Renault Design Asia and NET 1 APPLIED TECHNOLOGIES NETHERLANDS B.V Netherlands Business service will lead design projects in Asia. With this change, Renault Design Asia will be in charge of developing the next generation of SM5 and ZARA HOLDING B.V. Netherlands Wholesale, retail (distribution) QM5 sport utility vehicles (SUV). DREAM INTERNATIONAL HOLDINGS PTE LTD Singapore Business service Renault Group has transferred its mid-size sedan projects, which were CHEMTURA EUROPE GMBH Switzerland Chemical originally developed at the Renault Technical Center based on a new COVIDIEN FINANCE GMBH Switzerland Wholesale, retail (distribution) Renault-Nissan Alliance platform, to Renault Samsung’s Technical AL AHLI HOLDING GROUP UAE Real estate Center in Korea. Renault Samsung will also take the lead in terms of project management and new model designs in developing SUVs. Friends of Invest KOREA, the first young ambassador program at SABMILLER (A & A 2) LIMITED UK Wholesale, retail (distribution) Invest KOREA (IK), started last month with 35 students from 22 coun- GLAXO GROUP LTD UK Pharmaceuticals Renault Design Asia will propose design ideas and work on new tries. The program aims to train students of the undergraduate and grad- models with design centers in Brazil, Romania and India. Renault uate levels from 19 Korean universities as effective representatives of DAVID NORTHAM ROBERTS UK Business service Group aims to build its competitiveness in the Korean market with con- the company and of Korea. Students will be educated for five months FE INVESTMENT KOREA, LLC USA Textile, fabric, clothing tinued investment in Renault Samsung Motors to achieve 10 percent on the business opportunities and potential of Korea as well as on the market share, more exports from Korean factories and corporate effi- services of Invest KOREA. They are to serve as IK representatives in SOLOPOWER INC USA Machinery, equipment ciency. their home countries and beyond through SNS. FACEBOOK GLOBAL HOLDINGS II, LLC USA Business service MEDIA WORK HOLDINGS LLC USA Financials, insurance The first two-day workshop started last month with lectures at Invest Alps Electric Korea Invests in Gwangju KOREA on the company, Korea’s investment environment and strate- CURTISS-WRIGHT FLOW CONTROL CORPORATION USA Machinery, equipment gies to promote foreign direct investment through SNS. The ambassa- DICERNA PHARMACEUTICALS USA Business service Alps Electric Korea Co., Ltd. completed construction of its new dors then traveled to Paju, Korea, where they visited Paju City Hall, the research & development (R&D) center in April. The new facility hous- Paju Samneung Royal Tombs, the foreign-invested company Paju COMMUNITY CAPITAL PARTNERS, INC USA Real estate es a floor for the development and design of products for the automo- Electric Glass and LG Display’s industrial complex. LIGHTING INVESTMENT LTD Virgin Islands Electricity, electronics tive and consumer markets, as well as a production line. June 2013 June 2013 04 Monthly News 05 In the next few months, the ambassadors will head to Cheonan, Foreign Investment Ombudsman Dr. Ahn Choong Yong presided Hwang Seong-tae, the Head of Gyeonggi Province Economic KRW 97.4 trillion won, as of the end of April. Of the total outstanding Incheon, Ulsan and Gyeonggi Province to learn about the investment over the meeting. Kim Chang-gyu, Director General for International Investment; Kim Sun-ki, Mayor of Pyeongtaek; Yamazaki Teruhisa, Korean bonds, foreign investment accounted for 7.2 percent. environment and business opportunities there. Trade Policy of MOTIE, presented the investment policies of the Park CEO of KOYO JICO Korea; Shimatani Hitosi, an executive of JTEKT Geun-hye administration to build a foreign investment-friendly envi- Japan; Lee Myeong-gun, CEO of JICO Co. Ltd.; and executive mem- ronment. Kiwon Han, the Commissioner of Invest KOREA, the invest- bers of affiliated companies. GOVERNMENT & POLICY Foreigners Get to Know Beauty of Korea ment promotion arm of KOTRA, spoke about how foreign investment in Korea is not significantly affected by North Korea-related risks and KOYO JICO Korea was established in 2003 by JTEKT Japan, a the low Japanese yen. world-renowned car parts manufacturer, and JICO Korea. Maximum 5 Percent Profit to Be Allowed for FEZs The water pump bearing to be manufactured at KOYO JICO’s new REGIONAL FDI NEWS plant is an original design developed by JTEKT. Its patented technolo- The Ministry of Trade, Industry & Energy (MOTIE) announced last gy will be applied to the products produced in the new plant. With month a revision of the Enforcement Decree of the Special Act on Cheonan Home to New Advantest Korea KOYO JICO’s investment, parts once imported from Japan will be Designation and Management of Free Economic Zones to facilitate manufactured and exported here in Korea. Cooperation with other free economic zone (FEZ) development. Factory companies is expected to stimulate the local economy. According to the revised act, which will go into effect in August, a a developer can make a reasonable profit where it does not exceed five e r North Gyeongsang Province Attracts o percent of site costs, excluding the cost of capital and advanced pay- K t s Chinese Investment e ment from customers for industrial lands in land development projects t n Invest KOREA led a group of foreign investors, ambassadors, their a in which the portion of industrial land exceeds 50 percent. v d A family members and others to the Cosmetics & Beauty Expo, Osong, f o e c y n s Korea 2013 last month as part of its Get to Know Korea program. i Commercial and industrial land are currently provided as a package. v e t o r r u However, insufficient commercial facilities lead to the failure of indus- P o g C Aiming to help foreigners in Korea become more familiar with the n trial land to be supplied and therefore the possibility of depressed a s country, the event drew about 80 people for an afternoon focused on the Advantest Korea held an opening ceremony for a new factory in g development, which led to the revision of the Act, according to a n o e beauty of Korea and Koreans, the cosmetics industry of Korea and more. Cheonan last month. Advantest Corporation invested KRW 50 billion y MOTIE official. Currently, developers can make a profit on commer- G h (USD 44.3 million) to establish Advantest Korea’s two-story building. t cial land, having been provided industrial land at low prices. But poten- r o Past events have led foreigners to a traditional Korean theater in N tial limitations on commercial facility development in some FEZs led f o Seoul, a ceramics festival, a kimchi-making experience and other pro- Hee-jung Ahn, Governor of South Chungcheong Province, Matsuno y to changes in site conditions.
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