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Foreign Investment in North Jeolla Province Exceeds USD 200 Mn. In 2014

(JEONJU=NEWSIS) The foreign investment in the North Jeolla Province exceeded the USD 200 million level in 2014.

According to the North Jeolla Province on January 6, the foreign direct investment (FDI) in 2014 was USD 237 million, recording the all time high.

It is a 4.8-fold increase than the FDI in 2013 (USD 49 million) and it accounts for 11.5 percent of the total FDI (USD 2.54 billion) over the 51 years since 1962.

The increase in the investment is due to the large investments in the Gunsan free trade zone, the 3rd industrial complex in Iksan and the Saemangeum area.

The province will attract more foreign investment by visiting foreign-invested companies and holding CEO meetings.

It will also listen to the grievances of the foreign-invested companies and strengthen the administrative services.

"We will strive to raise the awareness of the foreign-invested companies that the North Jeolla Province has a business-friendly investment environment," said a provincial official.

Source Text

Source: Newsis (January. 06, 2015)

** This article was translated from the Korean.