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Minister urges foreign firms to increase investment
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South Korea's commerce minister on Monday called on foreign companies here to further expand their investment in the country and help create jobs.

The call came during a special meeting between Minister of Knowledge Economy Hong Suk-woo and heads of 21 top foreign-invested firms.

Hong "stressed the importance of increased investment by foreign-invested companies and said the government should also expand its support for foreign-invested firms in the country," the ministry said.

Exports by foreign-invested firms jumped from US$17.25 billion in 2000 to $62.62 billion in 2010, accounting for 11.6 percent of South Korea's total exports, according to the ministry.

Of the 21 participating companies, 19 said they already have plans to invest a combined $2.27 billion by 2015 and hire an additional 2,300 employees.

The minister said the government also plans to set up a new "request management meeting" to deal specifically with requests or complaints from foreign-invested companies.

Source Text


Source: Yonhap News (Feb. 13, 2012)

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