According to Yonhap News,

(SEOUL=Yonhap News) To promote greater investment in Korea by foreign companies, the Ministry of Trade, Industry and Energy has decided to award foreign-invested companies with outstanding performance every annual quarter.

Awarded companies will benefit from preferential terms regarding export credit guarantees and short-term export insurance.

The ministry announced that it held the first ceremony for the quarterly event for foreign-invested companies on October 17 at the Sheraton Palace Gangnam Hotel in Seocho-gu, Seoul.

At the event, the ministry presented Minister's Awards to seven foreign-invested companies in recognition of their outstanding investment performance and for having made a significant contribution to job creation during the first two quarters of this year.

Among the seven recipients were Lotte Versalis, which invested USD 135 million (based on amount reported since 2013) in Korea, and Enteris Korea, which is actively hiring more local talent.

For the subsequent events, awards will be presented to two to thee foreign-invested companies with outstanding performance in the previous quarter.

A seminar was also held by the ministry on the same day on reinforcing efforts to attract foreign investment.

Some 100 persons including investment promotion officials at 17 local governments and 7 free economic zone authorities attended the event, where presentations were made on the current trends in FDI and successful cases of attracting foreign investment.

cool@yna.co.kr

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