Gyeonggi Province Governor Kim Dong-yeon, who is visiting the U.S., has attracted 2.1 trillion won worth of investment from global logistics real estate companies and world-renowned test and certification agencies.
On the 18th (local time), Governor Kim signed an "Investment Cooperation Agreement for the Creation of an Eco-Friendly Complex Logistics Complex linked to New Industries" with CEO Nam Sun-woo of ESR Kendall Square and Executive Director Jake Seward of Warburg Pincus, an ESR Kendall Square investment company, at the Grand Conference Room of the Korea International Trade Association in New York.
Under the agreement, ESR Kendall Square will invest 2 trillion won by 2027 to build hydrogen logistics infrastructure such as a 990,000㎡ hydrogen charging station in Yeoju City and install solar power facilities using parking lots and rooftop roofs of distribution centers in the complex.
It will be an environment-friendly logistics complex where new and renewable energy will be introduced, and the province expects 2.5 trillion won in economic inducement and 7,700 jobs.
ESR Kendall Square will also create a corporate support fund related to high-tech industries (automation systems, AI, robots, etc.) in Yeoju, and will provide test bed space, field trips, and job fairs through industry-academia cooperation with local universities.
Established in 2014 in collaboration with ESR, a global logistics real estate investor, ESR Kendall Square is the largest logistics investment platform in Korea based on APAC (China, Japan, Korea, Australia, India, etc.).
Governor Kim also signed a business agreement with UL Solutions in the field of safety science at the same place to establish a high-tech automobile and battery test center in Korea.
The signing ceremony was attended by executives from headquarters, including Todd James Dennison, senior vice president of global regional affairs at UL Solutions.
UL Solutions will invest up to 100 billion won to establish a "high-tech automobile and battery test center" in the Oseong foreign investment area in Pyeongtaek to establish a test base specializing in the performance, reliability and safety evaluation of batteries dedicated to advanced mobility, EVs, and ESSs.
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