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NEG and Kuroda Electric Invest USD 260 Million
The Ministry of Trade, Industry and Energy (MOTIE) held an investment information session in Japan Tuesday with the Korea Trade-Investment Promotion Agency, provincial governments and Korean companies to attract Japanese parts and materials companies.
Japan, along with the United States and EU countries, has been one of the countries Korea has targeted in its promotion of investment. Traditionally, we have seen sound foreign direct investment in the parts and materials sector through cooperation with Korea’s key industries, including automobile, electronics and semiconductors.
The investment information session, held on a large scale in Japan for the first time for the Park Geun-hye administration, aimed at maintaining the rise in Japanese investment to Korea despite the low yen.
The session was successful with about 300 Korean and Japanese entrepreneurs attending. Korea’s investment environment and Japanese companies that have invested in Korea were introduced, followed by one-on-one business consultations.
Japanese parts and materials businesses at the session expressed deep interest in Korea’s investment environment and the new government’s foreign investment policy in particular. They also showed willingness to invest in provincial governments, which presented on site conditions at the event, and in Korean companies, such as Samsung Electronics, LG Display and SK Hynix.
MOTIE held the investment ceremony and attracted about USD 260 million from Nippon Electric Glass (NEG) and Kuroda Electric.
NEG has leading technology in the field of OLED, and its investment is significant in that it will enable the overall OLED process to be completed in Korea.
In addition, the investment from Kuroda Electric is a new type of investment, as it establishes an industrial complex in Korea and attracts Japanese companies. It is expected to draw follow-up investments from other Japanese companies.
Source: Ministry of Trade, Industry and Energy (June 11, 2013)