JEOLLABUK-DO < invest Korea

According to Newsis,

Saemangeum Development and Investment Agency (SDIA) said that it held “2021 on-line IR seminar for foreign companies” to introduce business opportunities in Saemangeum, requesting investment.

This event was held online divided in four zones, America, Europe, China and Japan, and participated by about 40 overseas companies such as BASF (advanced chemicals), BMW Group (future cars), among others.

SDIA said “To overcome difficulties of not being able to conduct face-to-face IR activities due to the COVID-19 pandemic, we have prepared this webinar,” adding “we invited companies - chosen by strategic industry sector- who have shown their interest in investment after receiving materials about Saemangeum projects.”

In consideration of time zones and languages, the webinar was held four times in total for two days, consisted of greeting speech by SDIA administrator, seminar on Korea’s investment environment by KOTRA, introduction to Saemangeum investment environment and Q&A session.

SDIA introduced: Korea’s strength as investment destination; Saemangeum renewable energy project pushed for as the world’s largest scale; creation of cluster for new industries such as future vehicles; and various incentives (investment benefits).

Participants showed much interest in such strategies as laying the foundation for RE100 through construction of smart green industrial complex, and creating cluster of new industries related to digital and green energy.

Also, participants reacted positively to differentiated benefits such as wide available land, reduction of corporate tax, long-term lease at lower cost, with some showing their intent to actively review investment in Saemangeum.

SIDA Administrator said “We will be the center of future new industries realizing RE100 by building renewable energy cluster and mobility cluster covering electric cars and hydrogen cars,” stressing that “Saemangeum is a great investment destination allowing companies to create new value based on renewable energy.”

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Source: Newsis (May 28, 2021)