Ministry of Justice Signs Business Agreement with Foreign Investment Ombudsman... Minister Park Beom-gye's 15th Policy Field Visit
On the 30th, Park Beom-gye, Minister of Justice (left), and Kim Seong-jin, Foreign Investment Ombudsman, signed a "Business Agreement for the Prevention of International Investment Disputes" at the Foreign Company Startup Support Center in Seocho-gu, Seoul. / Photo by Ministry of Justice
View original image[Asia Economy Reporter Kim Daehyun] The Ministry of Justice has signed a memorandum of understanding (MOU) with the Foreign Investment Ombudsman to prevent international investment disputes.
On the morning of the 30th, Minister of Justice Park Beomgye visited the Korea Trade-Investment Promotion Agency (KOTRA) and Investment Korea Plaza (IKP) to sign an MOU on "Prevention of International Investment Disputes" with Kim Seongjin, the Foreign Investment Ombudsman responsible for resolving difficulties faced by foreign-invested companies.
Based on the Foreign Investment Promotion Act, the Foreign Investment Ombudsman system, implemented in 1999, was established to assist foreign-invested companies operating in Korea by resolving their difficulties, collecting and sharing related information, and preparing measures for system improvements, among other duties.
The main contents of the MOU signed that day include ▲ information sharing between institutions ▲ cooperation on system improvements related to the investment environment ▲ joint hosting of meetings with foreign-invested companies ▲ personnel exchanges between institutions. Detailed implementation plans will be specified through future practical consultations.
Minister Park stated, "To properly support young people's startups and overseas expansion, I realized that the government must provide information and support the investment environment so that foreign-invested companies entering our country do not face inconveniences."
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This event marked Minister Park's 15th policy field visit. On the same day, he met with KOTRA President Kwon Pyungo and others. After the signing ceremony, he also held a meeting with foreign-invested companies.
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