Held "K-FEZ PR Day" at the Intercontinental Hotel in Seoul on September 3
Actively promoted industrial clusters and incentives to attract foreign investment in high-tech industries

The Ministry of Trade, Industry and Energy (Minister Ahn Duk-geun) and KOTRA (President Yu Jeoung-yeol) held a "K-FEZ PR DAY" at the InterContinental Parnas Hotel in Seoul on September 3 to promote the Korean Free Economic Zones (K-FEZ). It was attended by about 120 foreign diplomats in Korea, foreign chambers of commerce, global financial institutions, and foreign media officials.

At the event, the MOTIE and Invest Korea introduced: the current status of major industrial clusters; investment environment; incentives; and investment success stories. In addition, it promoted the strength of FEZs as a promising investment destination by presenting Korea's industrial competitiveness in the semiconductor and bio sectors- which are national high-tech strategic industries- and potential for cooperation with foreign investment. In addition, they also unveiled a new joint brand identity (BI) of FEZs, which symbolizes the "spirit of growth and challenge."

Taking this event as an opportunity, the MOTIE plans to expand the methods and subjects of promotion about the FEZs in order to promote investment in the FEZs. The previous method of individual promotion for foreign companies had limitations in that it was difficult to identify the degree of company's willingness to invest in Korea, and to contact company's investment decision makers. Taking that into account, the Ministry will expand the methods and subjects of promotion to foreign diplomats in Korea and foreign chambers of commerce, who are capable of passing the key information and opinions onto the companies with willingness to invest in Korea.

Vice Minister Park Sung-taek of MOTIE, who hosted the event, said, "Korea is recognized as the 'Growth Superstar' that has grown from one of the poorest countries to the world's 10th largest economy through its open-door policy," and asked participants to actively recommend the FEZs, which bring dynamics of Korea's society, excellent human resources, and seamless industrial ecosystem together, to foreign companies willing to invest in Korea as the best foreign investment destination.

In addition, Commissioner Kim Tae-hyung of Invest KOREA said, "Invest KOREA is carrying out various domestic and international cooperation projects with the Free Economic Zone Authorities to inform the strengths of the FEZs," adding, "We will actively promote excellent national infrastructure and investment strengths to achieve the national investment attraction goal this year."



Source: Invest KOREA (2024.09.04.)