Overcoming the Economic Crisis. LEE Jae-yul Assistant Govern or Gyeonggi Province

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1 Overcoming the Economic Crisis LEE Jae-yul Assistant Govern or Gyeonggi Province 1

2 Contents Ⅳ Introduction 1. Location 2. Area & population 3. Economic Status Economic Situation Major Policies for Overcoming the Economic Crisis 1. Deregulation in the Capital Region 2. Support of Small and Medium-sized Companies 3. Advance Budget Spending 4. Creation of Jobs 5. Hope Works Project 6. Unlimited Care for Families in Crisis 7. Safe School for Children 8. Great Train Express (GTX) Plan Conclusion 2

3 I. General Introduction Locatio Gyeonggi Province is located at the heart n of the Korean Peninsula z Beijing Shanghai 1,500 away z Tokyo 1,200 away z Vladivostok 700 away 3

4 I. Introduction Area & Population Area: 10,185 km2 (10.2% of the nation s total area) Incheon Seo ul Gyeonggi 17 times area of Seoul City 9.2 times area of Hong Kong 14.7 times area of Singapore 2.8 times area of Dubai Population : 11.5 million (22.9% of total nation) 21 city /4 county governments 42,835 public servants Total budget : US$ 30 billion - Largest budget portion among 16 upper tier governments in Korea 4

5 I. Introduction Economic Status GRDP US$196.7 billion (as of the end of 2007) - 20% of Korea s total GDP (US$957 billion) - Comparable to GDP of Portugal (US$220.2 billion), Hong Kong (US$206.7 billion), Malaysia (US$180.7 billion) Global companies in Gyeonggi Province Incheon Seoul 5

6 I. Introduction Center of Global IT Industry - 44% of national display industry in Gyeonggi Province - Semi-conductor : Samsung Electronics, Hynix, Fairchild, Tokyo Electronics, etc. - Display : LG Display, Samsung SDI, NEC, NHT, Hoya, 3M etc. Mecca of Bio-industry % of national bio-industry in Gyeonggi (68.6% of total national R&D budget) % of total national medicine industry in Gyeonggi Province - 9,832 medical institutions, 707 medical instrument manufacturer (42.5%) 6

7 Ⅱ. Economic Situation of Gyeonggi Economic Situation Unit : billion Won Local tax variation in Gyeonggi Privince ' ' The output of manufacturing in Gyeonggi province ' ' Source : National Statistics Office, Gyeonggi 7 Same period, last year, %

8 Ⅲ. Major Policies for Overcoming the Economic Crisis 1. Deregulation in the Capital Region Diverse deregulation for the competitiveness of the capital region of Korea (Gyeonggi, Seoul, Incheon) Allow new factories and enlarged facilities for companies Ease numerous restrictions on companies Reduction of distance limits for factory sites near greenbelts for areas near protected military facilities for special agricultural promotion areas for the Paldang River headwaters Enhancement of Land Use 8

9 Ⅲ.Major Policies for Overcoming the Economic Crisis 2. Support of Small and Medium-sized Companies Financial Support Technology Doctor Program Company SOS system 9

10 Ⅲ.Major Policies for Overcoming the Economic 3. crisis Advance Budget Spending Advance Budget Spending 4. Creation of Jobs Provide low income class with various learning opportunities Create various jobs 38,000 jobs including culture-tour guide and assistant curator positions created 10

11 Ⅲ.Major Policies for Overcoming the Economic Crisis 5. Hope Work Project Gyeonggi Province, Center of the Hope Work Project - 22% of the national total (largest) What is the Hope Work Project? Like the New Deal of F.D. Roosevelt, this project offers jobs in the public sector to support the livelihood of vulnerable citizens and activate the local economy Nationwide 250,000 Others 107,125 Gyeonggi 54,375 Budget Total nation : 1,707 billion won Gyeonggi : 371 billion (22%) Gyeongnam 16,250 Seoul 51,812 Busan 20,438 (Unit: Person) 11 Recognized as the Best Institution

12 Ⅲ.Major Policies for Overcoming the Economic Crisis 6. Unlimited Care for Families in Crisis What is Unlimited Care for Families in Crisis? - Gyeonggi Province initiated this program to assist people in great difficulty and those who fall in the blind spots of already existing welfare laws with swift support Supports - Essential living expenses including medical and educational spending until the crisis is overcome Support First, Evaluate Later " - Speed decision after on-site checking, tailored total service 27 billion won allocated to 28,473 families (as of Sept, 2009) 12

13 Ⅲ. Major Policies for Overcoming the Economic Crisis 7. Safe School for Children After-school protection and education of children from homes with working parents or single parents until their parents pick them up 47 classes in 32 school in Gyeonggi Province All Day Care Class of the central government : Starting from July 1, 2009, the program expanded to 300 classes around the nation (71 of which are in Gyeonggi) 13

Ⅲ.Major Policies for Overcoming the Economic Crisis GTX (Great Train Express) : runs 100km/h, 40m underground Budget : US$ 12 billion Number of cars entering Seoul from Gyeonggi will decrease

14 Ⅲ.Major Policies for Overcoming the Economic Crisis GTX (Great Train Express) : runs 100km/h, 40m underground Budget : US$ 12 billion Number of cars entering Seoul from Gyeonggi will decrease to 180,000 vehicles per day Travel time change - Gyeonggi Dongtan Seoul Gangnam (18 minutes) - Incehon Songdo Seoul Yeoeuido (21minutes) - Gyeonggi Euijeongbu Seoul CheongyangLi (12minutes) 14

15 Ⅲ. Major Policies for Overcoming Economic Crisis 15

16 Ⅳ. Conclusion 1. Make an ideal environment for companies Ongoing efforts in deregulation 2. Expand and enrich educational system to maximize human power Cradle-to-grave education 16

17 Gyeonggi Province Global Inspiration Thank you 17

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