Economy
As the backbone of Seoul in the means of manufacturing complex, Gyeonggi Province is evenly developed in various industries such as heavy industry (electronics, machine, heavy and chemical industry, steel), light industry (textile), and farm, livestock and fisheries industry. Due to the influence of recent high wages, the weight of various manufacturing industries has decreased in Korea’s economy. Gyeonggi Province is also making efforts in many ways to improve and modernize the conventional industry structure. Gyeonggi Province is unsparingly investing in the promotion of service industries related to soft competitive power such as state-of-the-art IT industry, designing, conventions and tourism, along with its great leap as a commercial hub in Northeast Asia using the Pyeongtaek Harbor. Besides this, it is famous for its special local products such as Icheon rice and Icheon/Gwangju ceramics. Also, the manufacturing base of global IT industries that represent Korea, such as Suwon Samsung Semi-conductor, Paju LG LCD Complex, and Icheon Hynix are located in Gyeonggi Province. Yeolmae Food also has its headquarters here.
Read more about this topic: Gyeonggi Province
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
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