According to Yonhap News,

(SEOUL=Yonhap News) The Ministry of Trade, Industry & Energy (MOTIE) held Foreign Investment Week 2014 (FIW) at the Lotte Hotel World in Seoul, Oct. 29-31. Hosted and organized by MOTIE and the Korea Trade-Investment Promotion Agency (KOTRA), FIW drew about 300 foreign investors from 22 countries, including such global corporate investors as GE Aviation, Boeing and Solvay.

Foreign investors were interested in the promising investment sectors of Korea and the government’s support policies, said MOTIE. In fact, some companies decided to invest in Korea after participating in the event.

A total of USD 59.80 million will be invested in Korea. American company “M” will invest USD 50 million in purchasing commercial real estate in Korea, Spanish company “I” will invest USD 7 million in the establishment of the Ocean Marina City in Jeju Island and Japanese company “N” will invest USD 2.8 million in the construction of a lactic acid manufacturing plant in Korea.

1st Vice Minister Lee Kwan-sup of MOTIE and the above companies attended an investment report ceremony for their investments.

Various forums were held to encourage more investment, such as “Promising Industries for Investment Related to the Korean Wave: Tourism & Leisure, Culture Contents & Fashion” and “Korea, Your Gateway to China & Beyond.”

The “Korea-Japan Economic Cooperation, Seeking for a New Type of Coexistence” was organized to commemorate the 50th anniversary of the normalization of diplomatic ties between the two countries.

On Oct. 31, foreign investors and journalists had the opportunity to visit the Busan-Jinhae Free Economic Zone and the Saemangeum area.

A Press Roundtable for Honorary Ambassadors of Foreign Investment for Korea was held as well. Five Honorary Ambassadors of Foreign Investment for Korea from the United States, Great Britain, Belgium, France and Japan discussed Korea’s investment environment and measures to boost investment promotion.

Korea has attracted the largest investment ever through FIW this year.

President Park Geun-hye gave welcome remarks via video. She emphasized, “Foreign investment is contributing significantly to the economic development of Korea by adopting state-of-the-art technology and advanced management techniques. I strongly recommend Korea, which strives to secure transparency in policies, as your global business partner.”

"Korea has world-class competitiveness as an investment destination. The market conditions could not be better, as Korea is not only situated close to large markets, but also has FTA networks and qualitative and quantitative human resources. The government is proactively engaged in easing regulations,” said Vice Minister Lee.

prayerahn@yna.co.kr

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Source Text

Source: Yonhap News (October. 29, 2014)

** This article was translated from the Korean.