Invest KOREA

To Share 2024 Investment Attraction Prospects and Strategy for 10 Key Industries with Local Governments and FEZs
To Discuss Cooperative Ways such as Investment Attraction and Joint IR in response to Supply Chain Reorganization and Carbon Neutrality

KOTRA (President Yu Joung-yeol) will invite local governments to hold a "2024 Seminar on Investment Promotion Strategies by Industry" at its headquarters on January 24. The Seminar has been prepared for Invest Korea (hereinafter referred to as "IK"), a national investment promotion agency, and local governments to share the prospects and strategies for this year's investment attraction and strengthen investment attraction cooperation.

Foreign Direct Investment (FDI) in Korea exceeded USD 30 billion for the second consecutive year since 2022. Of them, non-metropolitan local governments' active efforts to attract investment, which increased 17.1 percent year-on-year, also played a part. This event is expected to serve as a momentum for IK and local governments to expand investment attraction in non-metropolitan areas this year.

In the morning, industry managers from IK will introduce the 2024 prospects and strategies for investment attraction of ten industry sectors, including ▲ information and communication ▲ bio-health ▲ semiconductor, display ▲ future cars, batteries ▲ advanced materials ▲ energy ▲ consumer goods ▲ logistics and distribution ▲ regional development, and ▲ cultural contents.

During the first session of this seminar, Hur Nany, a research fellow at a law firm Lee & Ko, will deliver a message through her presentation under the theme of "Investment Attraction Strategy in Response to Global Supply Chain Reorganization," saying Korea should find out implications that Korea can refer to by conducting continuous monitoring on policy trends of major countries regarding reinforcing regional supply chains.

IK plans to strengthen the connection between investment attraction activities at the national-level and support for investment attraction at the non-metropolitan level by actively reflecting the content of the discussion with each local government in specific investment attraction project plans and the selection of major target companies to attract investment this year.

Commissioner Kim Tae-hyung of Invest KOREA said that "we need to strategically make use of opportunities created by global supply chain reorganization, carbon neutrality, and digital transformation driven by AI to achieve this year's goal of attracting USD 35 billion investment," adding, "We will further strengthen cooperation with local governments on investment attraction, such as sharing information and pushing for joint investment attraction projects."



Source: Invest KOREA (Jan. 24, 2024)