Foreign Investment Consultations Also in the Metaverse... KOTRA Shares Investment Information in Virtual Space

In-depth Customized Briefing at 'Pinvest Day 2021' Utilizing Metaverse Platform

KOTRA held the '2021 Finvest Comprehensive Investment Consultation' on the 9th on a metaverse platform. A virtual foreign investment consultation space in the form of a metaverse is in operation. (Photo by KOTRA)

[Asia Economy Reporter Lee Hye-young] KOTRA announced on the 10th that it held the foreign investment consultation and briefing session ‘PINVEST Day 2021’ to support domestic investors and foreign-invested companies.

According to KOTRA, the event held on the 9th was the first comprehensive investment consultation using the metaverse, which is gaining attention as the next-generation business platform. Through the metaverse, it alleviated the burden of face-to-face investment consultations caused by COVID-19 and provided in-depth individual consultation opportunities in independent virtual spaces focused on fields selected by foreign investors and foreign-invested companies.

KOTRA explained that about 70 domestic investment clients, including potential investors, domestic foreign-invested companies, local governments, free economic zone authorities, and chambers of commerce, participated in the event composed of △ Pinpoint consultation sessions (9 online consultations conducted simultaneously) △ investment incentive briefings △ investment practical seminars △ and promotional material halls to share domestic investment information.

In particular, during the Pinpoint consultation sessions, central government ministries, local governments, related organizations, and KOTRA consultation advisors gathered to provide one-on-one customized consultations on foreign investment reporting, visas, labor, taxation, location, and other aspects of domestic investment and business operations. Additionally, through the briefings and seminars, practical information related to foreign investment incentives such as tax reduction systems, cash support, advanced investment zones, as well as employment and labor, environmental policies, and tax systems was also provided.

A representative from foreign-invested company A, which is planning to expand its domestic factory, said, “It was convenient to receive answers in one place for consultation topics requiring inquiries to multiple institutions, such as visa acquisition for overseas employees, domestic tax information, hiring Koreans, and labor-management relations.” A representative from company B located in a provincial area evaluated, “It was interesting to participate in consultations and seminars as I could watch the seminars I was interested in at the desired time without having to travel to the venue on time, and the metaverse space added fun as if playing a game.”

Kang Jang-jin, head of KOTRA’s Comprehensive Administrative Support Center, said, “The KOTRA Comprehensive Administrative Support Center has been providing practical and timely comprehensive investment consulting so that foreign investors can make optimal investment decisions according to the government’s foreign investment policy direction,” and added, “Through this PINVEST event utilizing the metaverse platform, we will strengthen consultation support so that foreign investors and foreign-invested companies can achieve successful results in investment decisions and business operations.”

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