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Foreign companies in Korea forecast that troubled Asian emerging countries will have a limited impact on future investments in Korea.
In its presentation, Solvay, a top chemical company located in Belgium, noted that the currency crisis in 1988 and the U.S. economic crisis in 2008 served as opportunities for its business in Korea, adding that the troubled emerging Asian countries will not affect its business with Korea.
Solvay also selected Korea as a destination for its Special Chemical Global Business Unit and R&D center, as Korea is the best place to search for innovative developments and has a talented workforce and leading industries.
Solvay is developing its next-generation growth engine, including fuel cells and LED, in Korea.
The Global Innovation Center (GIC) of Kimberly Clark also mentioned that Korea’s innovative environment will serve as an engine to overcome crisis, showing its willingness to continue investing in Korea.
Kimberly Clark’s GIC in Seoul is the only GIC outside of the United States among the company’s four GICs.
Korea’s domestic market is small, but innovative and sensitive consumers and the Korean government, which actively supports innovation, will encourage investment, according to Kimberly Clark.
Source: Yonhap News (Sep. 3, 2013)
** This article was translated from the Korean.