Minister of Industry urges continued expansion of investment in foreign companies and foreign traders

Minister of Trade, Industry and Energy Ahn Deok-geun held a foreign investment strategy meeting on Monday, March 24 at the Grand InterContinental Seoul Parnas Hotel, attended by representatives of foreign chambers of commerce and foreign investment companies in Korea. This meeting was organized to strengthen communication ^{* with foreign chambers of commerce and foreign investment companies in Korea in order to improve external credibility and maintain the momentum of foreign investment.}

  * Luncheon meeting of foreign investment companies (‘24.2.14, Korea Chamber of Commerce and Industry), Foreign Investment Strategy Meeting (4.3, Jinkwansa), Foreign Chamber of Commerce Meeting (12.6, Korea Chamber of Commerce and Industry/Deputy Prime Minister for Economic Affairs joint meeting), Foreign Investment Strategy Meeting (12.19, Korea House)

  Representatives of foreign chambers of commerce and foreign-invested companies in Korea who attended the meeting expressed their gratitude for the Korean government’s efforts to create a business-friendly environment, and suggested deregulation of electric vehicles, healthcare, offshore wind power, improvement of living conditions, and expansion of incentives to enable freer management activities and expanded investment . ^*

  * Regulatory improvements such as SJC‧ECCK, difficulties related to expanding the number of students in foreign schools, difficulties related to expanding the power transmission network, etc.

  Minister Ahn Deok-geun said, “The domestic and international environment continues to be highly uncertain, with deepening protectionism and reorganization of supply chains,” and added, “The Ministry of Trade, Industry and Energy will actively pursue policies to promote foreign investment, such as significantly strengthening incentives for foreign investment, improving the foreign investment environment to meet global standards, and developing strategic outreach, without ^being  swayed by changes in domestic and international situations.”

  * Attracting global regional headquarters and R&D centers, actively attracting international investment cooperation ambassadors, holding the Invest Korea Summit in conjunction with the APEC summit, etc.

  Meanwhile, the Ministry of Trade, Industry and Energy announced that global companies such as Vena Energy and Corning reported investment plans totaling over $300 million in offshore wind power and advanced materials during the Foreign Investment Strategy Meeting. The Ministry of Trade, Industry and Energy plans to provide close support so that all reported investments, including this report ceremony, can proceed quickly and smoothly.