'COVID-19 Spread' Red Light for Investment Attraction in Incheon Free Economic Zone... Strengthening Non-Face-to-Face Marketing

Incheon Free Economic Zone Authority in Songdo International City

[Asia Economy Reporter Park Hyesook] As the novel coronavirus disease (COVID-19) spreads domestically and internationally, a red light has been lit for investment attraction by the Incheon Free Economic Zone Authority.

According to the Incheon Free Economic Zone Authority on the 13th, the foreign direct investment (FDI) reported amount for this year in the Incheon Free Economic Zones of Songdo, Cheongna, and Yeongjong International City is targeted at $656 million, 4% higher than last year's $630 million.

However, due to the COVID-19 impact, face-to-face contact and consultations with investors through domestic and overseas business trips have been completely suspended, making it difficult to achieve this year's investment attraction goals.

Therefore, the Incheon Free Economic Zone Authority plans to actively utilize non-face-to-face marketing to attract investment in preparation for the prolonged COVID-19 situation.

They will promote measures such as video consultations with potential investors, sending investment attraction presentation materials, real-time consultations using online messengers, and advancing contract signings scheduled for this year.

Along with this, they will actively utilize government support projects such as cash support systems for investors and simultaneously conduct investment attraction activities through overseas trade offices operated by KOTRA, focusing on attracting leading companies in the domestic and international bio-healthcare sectors and global companies in advanced parts, materials, and automation equipment.

Lee Won-jae, head of the Incheon Free Economic Zone Authority, stated, "Although it is difficult to attract domestic and foreign investment to the Incheon Free Economic Zone due to the COVID-19 situation, we will overcome the crisis by strengthening networking with potential investors through non-face-to-face marketing strategies and conducting one-on-one customized investment attraction activities."

Meanwhile, last year, the Incheon Free Economic Zone Authority's reported FDI amount was $906.45 million, accounting for 88.4% of the total FDI reported amount of $1.025 billion across the seven national free economic zones, achieving the highest performance.

This content was produced with the assistance of AI translation services.