Since Samsung and LG are in the Gumi Parts and Materials Exclusive Zone, many foreign companies have decided to place their investments in Gumi. Mobile phone, display, electronics, and renewable energy industries have already filled 282,003 square meters of four of Gumi's industrial complexes. The fifth industrial complex is in the process of construction and is set to add 660,000 square meters of space.
In February and March, Gumi representatives flew to Japan to give briefings on investment opportunities. Gumi covers the flight and boarding expenses for any investors who are interested in visiting the industrial complexes.
Passionate and Systematic Care
Gumi Industrial Complex is well equipped with a manufacturing backbone and facilities for foreign companies to engage in production with full support. Foreign companies that invest their money into the site can easily find customers within Gumi Industrial Complex because many competitive display and cellphone manufacturers are based in the Gumi industrial complex.
"Gumi Component and Material Complex is one of the attractions for foreign entrepreneurs who have long been looking for the best sites in favor of business,” said Kim Jin-ho of the Investment and Trade Division of the City of Gumi. “The complex welcomes investors, at home and abroad, with baskets at the reception desk full of opportunities and benefits,” Kim emphasized. “Among the complex, Section 4 was designed to attract foreign investments in component and material businesses which demanded a less cost and high productivity environment,” added Kim. Each official is matched up with a company at the zone, and he must frequently contact the company to find out if there is any area to be supported further. Foreign companies have been very satisfactory about this system.
Time is Good
The best benefit foreign investors can enjoy at this time is the statistics among the companies inside the complex, which indicate the materials and components trade deficit with Japan. The wave of the trade deficit will not easily end since Korean IT companies depend a lot on imported components to finish their products. The trade deficit with Japan has reached about two billion dollars as of today. If, for example, a Japanese company moves into Gumi Parts and Material Industrial Complex and produces its components with low labor costs but high capability, it can easily find and interact with Korean and other companies within the zone. Since the Parts and Materials Exclusive Zone of Gumi has a leading record in terms of both size and operation systems, foreign companies in the zone can make much more profit by having natural interactions with the other companies in the neighborhood. Korean companies, after all, are always in demand of advanced components from developed countries.
Thirteen foreign investment companies including Asahi Glass, Coorstek, and Micro High Tech are based in 4 industrial complexes in Gumi. At the recent event of IMAC 2009, most buyers evaluated Korea's development in material and component industries highly. This may bring possible technical collaboration within the zone in the near future. Lee Dong-soo, chairman of the Gumi Chamber of Commerce and Industry, said that the Gumi Industrial Complex is the best site for foreign investors who seek to make a good balance sheet.
Notable Character of Gumi
To sum it up, the extra something special of Gumi is its focused priority in the personal care of foreign companies, professional consultancy, generous financial support, and enthusiasm to host more companies in order to enlarge the network channels so that its people can take full benefit.