The Korea Trade-Investment Promotion Agency (KOTRA) and the Incheon Metropolitan City Government have signed a memorandum of understanding (MOU) to successfully run the Green Climate Fund (GCF).

According to the MOU, they will jointly proceed with a project to support developing nations, and KOTRA will hold an event centered around business meetings with green project overseas buyers. This event, typically held in Seoul, will be held in Song-do, Incheon.

KOTRA will send a taskforce to GCF and begin a project to reduce greenhouse gases in cooperation with Incheon as well as developing countries that hope to participate. It will also endeavor to attract international investment banks and multinational companies in law, accounting, and consulting.

“We will seek ways to connect our GCF project with the developing nation-related project, the MOU for which was signed recently with the United Nations Industrial Development Organization (UNIDO),” said Dr. Oh Young-ho, CEO of KOTRA.

Source: Yonhap News (Mar. 15, 2013)

** This article was translated from the Korean.