Gwangyang Economic Zone Authority Conducts Foreign Investment Attraction Activities Using Metaverse Platform

Foreign Investment Attraction Environment Guidance and Overseas Company Consultations at Pinvest Day

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] The Gwangyang Bay Area Free Economic Zone Authority (Commissioner Song Sang-rak, hereinafter Gwangyang Economic Authority) announced that it participated in the ‘2022 PINVEST DAY’ investment consultation briefing held on the 23rd and conducted investment attraction activities.

PINVEST DAY, hosted by KOTRA, is a compound word of ‘Pinpoint’ and ‘Invest,’ and is a consultation and briefing session to support domestic investors and foreign-invested companies. It was held on Gather Town, a business platform attracting attention in the metaverse era.

At this briefing, the Gwangyang Economic Authority conducted consultations regarding factory establishment conditions, incentives, and tax reduction systems targeting foreign-invested company A. In addition, they explained practical information helpful to foreign-invested companies as well as successful cases of foreign investment attraction utilizing the hinterland of the Gwangyang Bay Area port.

A representative of the Gwangyang Economic Authority said, “We conducted comprehensive consultations so that foreign-invested companies can make optimal investment decisions in line with foreign investment policy directions,” and added, “We will strengthen consultation support in various ways, including utilizing metaverse platforms in response to changes in the business environment, to help foreign-invested companies achieve successful results.”

A representative of company A said, “Through one-on-one customized consultations on foreign investment reporting, taxation, and location conditions, we were able to receive detailed answers, which greatly helped in reviewing investment areas,” expressing their consultation impressions.

‘PINVEST DAY,’ which started in 2021 and is now in its second year, consists of ▲ Pinpoint consultation sessions (online consultations) ▲ foreign investment incentive briefings ▲ investment practical seminars ▲ promotional material halls. This event was attended by about 70 domestic investment clients as well as potential investors and domestic foreign-invested companies, sharing domestic investment information.

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

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