KOTRA Opens Foreign Investment Policy Center... "Role as an 'Investment Attraction Strategy Think Tank'"

KOTRA held a plaque ceremony for the Foreign Investment Policy Center on the 2nd at its headquarters IKP in Yeomgok-dong, Seoul. Attending the event were (from left) Jang Sang-hyun, CEO of KOTRA Invest Korea, Kwon Pyung-oh, President of KOTRA, Park Jung-wook, Director of Investment Policy at the Ministry of Trade, Industry and Energy, and Yoo Se-geun, Chairman of the Korea Foreign Enterprise Association. (Photo by KOTRA)

[Asia Economy Reporter Kim Ji-hee] KOTRA held a plaque ceremony for the Foreign Investment Policy Center on the 2nd at its headquarters, Invest Korea Plaza (IKP), in Yeomgok-dong, Seoul.

Recently, the environment for attracting foreign investment in Korea has been rapidly changing due to the spread of COVID-19, the US-China trade dispute, and the reorganization of the global value chain (GVC). Additionally, movements to regulate foreign investment by various countries, such as the Foreign Investment Risk Review Modernization Act enacted in the US in February, are gaining momentum. Furthermore, ongoing negotiations at the World Trade Organization (WTO) on investment facilitation have increased the necessity for establishing and researching national foreign investment attraction strategies.

Accordingly, the Foreign Investment Policy Center plans to serve as a "think tank for investment attraction strategies" by analyzing global investment trends, investigating the domestic investment environment, and researching investment attraction policies and strategies. Foreign investment experts will work full-time, and experts from research institutes, academia, and industry will be appointed as non-standing research committee members to enhance capabilities.

Kwon Pyung-oh, President of KOTRA, stated, "We will spare no support to ensure that the Foreign Investment Policy Center plays a central role in establishing and researching South Korea's foreign investment attraction strategies."

Meanwhile, the event was attended by Park Jung-wook, Director of Investment Policy at the Ministry of Trade, Industry and Energy, and Yoo Se-geun, Chairman of the Korea Foreign Companies Association (FORCA), among others.

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