The Ministry of Trade, Industry and Energy and KOTRA held a workshop on foreign investment promotion for the national innovation cluster with 50 local government officers
The focus was on attracting industries such as smart healthcare, green mobility and ICT convergence
On June 26, the Korea Trade-Investment Promotion Agency (KOTRA; President and CEO Kwon Pyung-oh) co-supervised a workshop on foreign investment promotion for the National Innovation Cluster with the Korea Institute for Advancement of Technology (KIAT). The workshop was hosted by the Ministry of Trade, Industry and Energy at the Yongsan Dragon City Hotel in Seoul. At a time of increased interest in balanced national development, the workshop brought together local governments to discuss ways to attract more foreign investment accompanied by advanced technology to the national innovation cluster.
The national innovation cluster is a mega-sized industrial cluster that will serve to connect innovation cities, free economic zones, industrial parks, and regional industry and academia to create an ecosystem for new industries, as part of the Korean government's central policy for balanced national development. The government plans to provide a 5-part support package for companies that move to the cluster including subsidies, tax reductions, financial support, special regulatory exemptions and substantiation support, in order to develop the cluster as a regional base for new growth.
The 50 participants from 13 different local and provincial governments discussed KOTRA's plan for foreign invest promotion support and took part in consultations with KOTRA's industrial project managers about ways to attract investments from promising companies overseas. In particular, KOTRA shared successful cases of cooperation with local governments in attracting investment, raising expectations for successful collaboration in the future.
Kim Seungho, Head of KOTRA's Investment Promotion Department stated, “Through this workshop, we hope to discover the regional investment demand of overseas companies and focus on support on attracting foreign investment centered on new growth industries, such as smart health care, green mobility and ICT convergence, by region.”
Meanwhile, based on the consultations with local governments, KOTRA will conduct a survey on promising investors, confirm their intentions to invest and conduct investment promotion projects at home and abroad.
Source : Invest Korea (2018.06.27)