South Gyeongsang Province to hold investment briefing for Greater Seoul firms

South Gyeongsang Province is launching a major push to attract investment from companies based in the Greater Seoul area.

The provincial government announced Wednesday it will host the 2026 South Gyeongsang Province Investment Attraction Briefing on Oct. 20 at the Westin Chosun Hotel in Seoul, inviting about 300 CEOs and investment officials from major Greater Seoul companies. The event is designed to encourage metropolitan-area firms to relocate to the province and to draw new investment into its strategic industries.

The province plans to showcase its industrial base, investment environment and support programs, with a focus on emerging industries including aerospace, defense and small modular reactors. Even as the global economic slowdown continues, officials say they will press ahead with investment attraction efforts by offering tailored support packages and sector-specific strategies.

The briefing will highlight research and development and production capabilities in the aerospace and defense sectors, as well as opportunities for collaboration among related companies. Firms planning large-scale investment will receive assistance from site selection through administrative procedures. Officials also plan to hear about the challenges companies face at each stage of investment and to present on-the-spot solutions.

Customized incentives for large investors will be a key part of the pitch. Companies that invest 100 billion won ($73.6 million) or more, or hire at least 200 new employees, can receive up to 10 billion won each toward equipment investment and land purchase costs — up to 20 billion won per company. Firms that invest at least 5 billion won and hire five or more new workers are also eligible for interest-free loans covering up to 60 percent of land purchase costs, capped at 10 billion won.

As of August, the province had attracted 7.72 trillion won in investment from 111 companies, equivalent to 96.5 percent of its annual target of 8 trillion won. The province said it aims to surpass its annual goal ahead of schedule through this briefing and achieve a record-high investment haul. It also plans to use the event to raise interest among Greater Seoul firms and inject new energy into the regional economy.

South Gyeongsang Province has held annual investment briefings in Seoul to draw metropolitan-area companies to the region. At last year's event on Oct. 28, the province signed investment agreements worth 1.9 trillion won with 17 Greater Seoul companies, laying the groundwork for 1,636 new jobs.

"South Gyeongsang Province is the ideal investment destination, where a strong manufacturing base meets the future advanced industries," said Kim In-su, director general of the province's economy and trade bureau. "We will spare no administrative or fiscal support to help Greater Seoul companies find new growth engines here."