DGFEZ, Welcomed by Local Companies and Investors During Investment Inducement Tour in Singapore
- DIP, Engaged in a new drive for investment inducement with local IT companies -

Commissioner Inseon Lee, who was appointed as the 4th Director of DGFEZ, is busy touring the key sites in Singapore with DIP and local IT companies to induce foreign investment in the Knowledge Industry Complex, with a focus on Soosung Medical Complex, only after a month from his inauguration.

The foreign investment inducement activities of this time are nothing like what they have been doing so far. In order to induce investment into and promote export of the IT companies in the Knowledge Industrial Complex Sites in Soosung Medical Complex, they held an investment sales event at Hotel Amara, which is located at the central district of Singapore, for a whole day on November 28. Then, on November 29, they signed a three-party MOU between DGFEZ, Singapore Infocomm Technology Federation, and DIP.

This investment sales event included investment inducement activities in cooperation with the local companies with good technologies in addition to the introduction of the industrial complexes as they did before. The local IT companies, buyers, and financial investors visited the presentation meeting venue to network with Daegu’s local companies. A total of 80 guests visited the venue to heat up the business fever during the meeting.

During the business meetings following the presentations, 1:1 business meetings between 30 selected local companies took place. One company participated in three meetings in average, and the amount of discussed potential businesses amounted to 5,830,000 dollars in 23 cases.

The investment inducement activities in Singapore included networking between companies in the local level through associations and supporting organizations and forming networks, which may lead to a large amount investment in the mid/long-term and were highly acclaimed by local companies. Especially, A company was pledged tentatively for a 2 million-dollar investment from a Malaysian company, and B company signed an MOU for cooperation with another company. C and D companies received a proposal from the local buyer for a distributorship agreement, and many other companies became subjects of keen interest from local companies.

Commissioner Inseon Lee of DGFEZ said this new model, in which DGFEZ and the related associations provided supports and the companies seeking investments gave their presentation in English for themselves was a new business model unique to DGFEZ unlike those of seven othere Free Economic Zones. He added that, in the next year, she would invite SiTF and other related companies to Daegu to show the sites in Daegu and Gyeongbuk Area in order to expand business exchanges in a continuous manner.