[Invest Korea Week 2021] Foreign investors explain why they invest in S. Korea

[2021 외국인 투자주간] 코로나 이후 글로벌 투자환경의 변화

South Korea is a leading innovator in a number of industries, and that's attracting the attention of investors around the world.
Today marks the start of Invest Korea Week, an event to help foreign investors find opportunities and build networks here.
Our Jang Tae-hyun spoke with some multinational business leaders to find out what attracted their companies to Korea.
Out of the hundreds of countries around the world... why should foreign investors pick South Korea?
'Invest Korea Week 2021' has the answer.

"Business leaders and investors around the world, the Korean government will work with you beyond borders. We have been expanding the support system in tax, location, cash grants and employment for foreign investors. In order to facilitate the process of launching new businesses, we will work to deregulate and actively solve other problems investors are facing."

This annual event is hosted by the Trade Ministry, organized by KOTRA, the Korea Trade-Investment Promotion Agency,... and broadcasted on Arirang TV.

"The coronavirus outbreak has surely affected many aspects of our lives, including the global investment trend. Invest Korea Week 2021 explains why South Korea can become a market that attracts more foreign investment."

The online event is for foreign investors, Korean companies and those interested in building networks.
For this year, the theme is innovative and sustainable business.
One of the panel guests, the head of energy giant Equinor Korea said, they see potential in South Korea... as the government has great ambitions of supporting the industry's development.

"Well, there are great support for us, when we see such an engagement from the authorities both centrally in Seoul and as well in different locations. And, we see Korea as the next cluster for Equinor within offshore wind industry."

Another multinational chemical firm, Solvay Korea says, it used to be located in Incheon, in the capital region of Korea, but decided to move.

"Finally, we decided to move to Gunsan because the local government gave us good condition in terms of cash ground and tax exemption."

Seo added that Korea has a diverse economic ecosystem ranging from automobiles to electronics.
In the meantime, the chair of the European Chamber of Commerce in Korea says that,... Korea is a desirable country to invest in because Free Trade Agreement regulations provide a safe environment.
But, he added that there are some aspects that could be improved on.

"International standard is definitely one of the areas where we believe it needs some improvement. That makes it easier for companies to invest in Korea."

Invest Korea Week 2021 will be held from November 3rd to 5th... both online and through broadcast media.
Jang Tae-hyun, Arirang News.

#Foreigner #investor #SouthKorea

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2021-11-03, 17:00 (KST)