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Busan city- KOTRA signed an MOU for FDI attraction

According to Yonhap News,

BUSAN, Aug.16 (Yonhap)-  The city of Busan signed an MOU with Korea Trade-Investment Promotion Agency (KOTRA) on Aug 26 to further promote foreign investment and business reshoring, bringing overseas production and services back to Korea.

Under such partnership deal, both reached a consensus on making concerted efforts to help multinational companies and those which once have moved their business overseas come and bring jobs to Korea. They, specifically, agreed to work together to find global investors and venture capitalists, appoint a trade office dedicated to the partnership work and to run joint-corporate IR events and presentations overseas.

KOTRA, part of Korea’s investment promotion agencies, will give its counterpart a leg up by making full use of its human and networking resources which spread across the world so as to help the city government set up FDI policies and focus more on investment attraction into major growth drivers.

A city official said ‘”The deal is highly anticipated to band the city and the agency together, giving a momentum to bring global top businesses into the community, which in turn brings decent jobs to this place for young city residents.“

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Source: Yonhap News (Aug 26 2020)

* This article was translated from Korean. 
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