KOTRA Holds Briefing Session on Supporting Korean Investment with Japan's Mitsubishi UFJ Bank and Local Companies

KOTRA Holds 'Japan Investment Attraction Briefing and Consultation' in Tokyo

[Asia Economy Reporter Kim Pyeonghwa] The Korea Trade-Investment Promotion Agency (KOTRA) will hold the "Japan Investment Attraction Briefing and Consultation" in Tokyo, Japan on the 1st. This briefing is being promoted in cooperation with Mitsubishi UFJ Bank (MUFG), one of Japan's three major large banks. MUFG is a bank belonging to Mitsubishi UFJ Financial Group, the largest financial group in Japan, managing Japanese companies on a global scale as its clients.

About 100 representatives from promising Japanese companies interested in entering the Korean market will participate in this event. MUFG will present an analysis of Korea's economic trends from the perspective of Japanese companies and cases of Japanese component and material companies entering Korea. Kim & Chang Law Firm will explain Korea's labor policy directions and the differences in labor laws between Korea and Japan. Tax Corporation Stacia will introduce the Korean tax system, which is a key interest for potential investors. KOTRA will also provide information on the foreign investment ombudsman system and cases of resolving investor difficulties.

The person in charge of Korean investment at MUFG said, "During the COVID-19 pandemic, the demand for new overseas expansion from major clients was stagnant, but recently it has been revitalizing," adding, "In particular, we expect the demand from Japanese companies interested in sectors where Korean companies lead the global market, such as secondary batteries and semiconductors, to increase in the future."

Japan's investment in Korea recorded $1.43 billion in 2019 based on reported amounts, but decreased to $790 million in 2020 due to the spread of COVID-19. Last year, it showed a recovery trend with $1.2 billion, and this year, as of the third quarter, it has reached $1 billion, showing a gradual recovery.

KOTRA plans to dispatch a delegation this month to actively respond to the increasing trend of Japanese investment in Korea and to attract investment from Japanese companies possessing core technologies. Kim Samsik, head of KOTRA's Japan Regional Headquarters, said, "Since the visa exemption measures between the two countries in October, travel between the two countries has become freer, and economic exchanges are becoming more active as a result," adding, "We expect this briefing to be a good opportunity to confirm the investment potential of promising Japanese companies in Korea."

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