SEOUL: Government officials and businessmen from dozens of developing countries will visit Seoul next week for the first-ever joint investment fair, aimed at attracting South Korean investors and businesses, South Korea’s Yonhap news agency said yesterday.
The two-day event will kick-off next Thursday at Seoul’s Convention and Exhibition Centre, or COEX, according to the Korea Trade-Investment Promotion Agency (Kotra).
Each of the 29 participating countries including China, India, Vietnam and Indonesia will give a presentation to introduce their business conditions and incentives for foreign investors and will also hold one-on-one business meetings with potential investors.
“It will be a great opportunity for any of our businesses with plans for overseas investment to study and even compare advantages of investing in any of the countries without having to visit them,” Kotra said in a press release.
South Korea is working to boost foreign investment to the country, but is also becoming one of the largest investor nations in the region as some 70 per cent of its economy depends on exports.
“Investing in foreign countries is a must for South Korean firms to explore new overseas markets and also secure energy and natural resources that are essential to their production while also maintaining their price competitiveness through global manufacturing systems,” Kotra president Cho Hwan-eik said. — Bernama