Province launches third advisory committee on investment attraction
Panel of 29 experts to sharpen strategy in aerospace, defense and nuclear sectors
South Gyeongsang Province has hit its annual investment attraction target of 10 trillion won ($7.55 billion) ahead of schedule, the provincial government said Friday. To build on the momentum, the province launched its third investment attraction advisory committee and said it would strengthen investment strategies in its core and emerging advanced industries.
The province crossed the 10 trillion won threshold after signing investment memorandums of understanding worth 2.64 trillion won at a briefing held Tuesday in Seoul for companies based in the greater metropolitan area.
Seventeen companies drove this year's investment haul, including Doosan Enerbility, Samsung Heavy Industries, Young Chemical and Daewon Plus Group. Aerospace firms accounted for the largest share at six companies, while investments also came in from the defense and nuclear power sectors, the province said.
To sustain the momentum, the province launched the third advisory committee, pledging to work as a unified team with the panel to navigate a rapidly shifting investment environment shaped by global supply chain realignments.
The third advisory committee held its inaugural ceremony and first plenary session Thursday and Friday at the Sacheon Airshow venue, the Doosan Enerbility plant in Changwon, and the provincial government conference room. The 29-member panel draws on expertise in economics, finance, industry, defense and law. Hwang Gak-gyu, chairman of the Korea Tire Industry Association and a former vice chairman of Lotte Holdings, was reappointed as committee chair.
The province also appointed six new working-level experts to the committee, including Kim Tae-hyung, head of Invest Korea. The committee operates through three subcommittees covering future growth industries, core industries, and tourism, MICE, policy and trends. The province said it plans to use each subcommittee's expertise to develop targeted investment attraction strategies.
Before the plenary session, committee members attended the Sacheon Airshow and the Global Aerospace and Defense Exhibition on Thursday. On Friday morning, they toured the Doosan Enerbility plant in Changwon to inspect its production facilities. The province said the visits gave members a firsthand look at South Gyeongsang's industrial base and investment conditions in the aerospace, defense and nuclear sectors.
The afternoon plenary session at the provincial government office covered three items: the presentation of appointment plaques to new members and a briefing on the committee's operating plan, an introduction to major tourism investment sites in the province, and an open discussion on ways to boost investment across each sector.
South Gyeongsang Province Governor Park Wan-su said the second advisory committee had laid the groundwork for achieving 10 trillion won in investment attraction for two consecutive years, and expressed hope that the third committee would use its deep expertise to help propel the provincial economy forward. "Attracting investment means connecting promising companies with South Gyeongsang and turning that into regional growth and jobs," Park said. "We will actively back the committee's proposals at the provincial government level so they translate into real investment outcomes."
Advisory committee chair Hwang Gak-gyu said the panel would pool members' on-the-ground experience and networks to propose effective policies and serve as a bridge for investment, with the goal of positioning South Gyeongsang as South Korea's premier investment hub.
The province said it plans to maintain ongoing communication with the advisory committee to refine its investment attraction strategies in both core and advanced industries, providing close support at every stage from identifying promising companies to securing actual investment commitments.
ook967@heraldcorp.com
