Yoon Hits '1 Trillion' Jackpot in Switzerland... Calls Global CEOs for '100-Minute' Sales Pitch

Vestas and Merck Life Sciences
Investment Talks with Novartis Totaling $800 Million
"I am South Korea's First Salesperson... The System Should Align with Global Standards"

[Davos=Asia Economy Reporter Baek Kyunghwan] Following President Yoon Seok-yeol's securing of a $30 billion (approximately 40 trillion KRW) investment decision in the United Arab Emirates (UAE), he also attracted $800 million (approximately 1 trillion KRW) in investments in Davos, Switzerland. President Yoon, who declared that from this year onward all diplomatic efforts would focus on the 'economy,' is achieving tangible results on his first overseas trip. President Yoon stated, "Under the principle of a private-led, market-centered economy, we are doing our best to create a business-friendly environment," actively engaging in 'Korea Sales.'

According to the presidential office on the 18th (local time), at an investment declaration ceremony held at a hotel in Davos, Switzerland, attended by President Yoon, Vestas decided to invest $300 million (approximately 370 billion KRW) in Korea. Vestas, the world's number one wind turbine manufacturer, plans to relocate its Asia-Pacific regional headquarters to Korea, making it a key hub in the Asia-Pacific region, which is the core of this investment.

President Yoon Suk-yeol, who is visiting Switzerland to attend the World Economic Forum Annual Meeting (WEF, Davos Forum), is speaking at a "Lunch with Global CEOs" held at a hotel in downtown Davos on the 18th (local time).
[Photo by Yonhap News]

On the same day, Henrik Andersen, CEO of Vestas, directly reported the investment scale to Minister Lee Chang-yang of the Ministry of Trade, Industry and Energy. At the investment declaration ceremony, President Yoon expressed his gratitude in his remarks, saying, "In the meeting with Danish Prime Minister Frederiksen last June, we agreed to expand mutual investments in the offshore wind power sector, and I am pleased that this valuable result has been achieved," thanking them for deciding on the investment in just over half a year.

In a subsequent one-on-one meeting with the Minister of Trade, Industry and Energy, discussions were held with key executives from Merck Life Science, an advanced German science and technology company, and Novartis, a Swiss pharmaceutical company, regarding investment cooperation plans in Korea. The investment intention scale proposed by Merck Life Science and Novartis is known to be about $500 million (approximately 615 billion KRW). The presidential office expects that the total $800 million investment attraction and cooperation achievements from the investment declaration ceremony and investment meetings will lead to export expansion and job creation in future industries.

Earlier, President Yoon had already secured a $30 billion (approximately 40 trillion KRW) investment decision in the UAE, his previous destination. Thirteen memorandums of understanding (MOUs) were signed focusing on four core areas: nuclear power, energy, investment, and defense industry. The two heads of state also elevated bilateral relations to a 'special strategic partnership,' the highest level of cooperation.

The presidential office is paying attention to the fact that various forms of investments between governments and companies are taking place and tangible results are emerging from President Yoon's current trip. Especially in Davos, the 'Team Korea' led investments from global companies amounting to 1 trillion KRW, which stands out. President Yoon told domestic companies in the UAE, "The government and companies are one body and one team," adding, "I said I carry companies that create many jobs on my back, and I will carry our companies so they can demonstrate their capabilities in the global market."

At a luncheon with global company CEOs held in Davos, President Yoon reiterated the same stance and repeatedly requested investment in Korea. The luncheon, held at a hotel in downtown Davos in the afternoon, was attended by about 20 CEOs of domestic and international global companies.

During the luncheon, which lasted about 100 minutes beyond the scheduled time, President Yoon said, "I am Korea's number one salesperson," adding, "I created this occasion because I believe it is my duty as Korea's salesperson to meet global businesspeople and invite them to lunch at least once." He continued, "We gathered in Davos to solve problems facing humanity, but at this moment, I want to introduce myself as 'the president of this country' so that when you visit Korea in the future, you can comfortably visit my office," requesting various advice from the global CEOs.

"If more overseas investments come in, we can align our systems with global standards," he said, reiterating the government's 'market-centered' policy stance. On this day, President Yoon showed high interest not only in semiconductors and digital industries but also in the solar power industry and Environmental, Social, and Governance (ESG) fields. President Yoon said, "The Korean market is open, and my office is open, so please feel free to visit anytime," adding, "Market integration changes culture and mindset, making us share similar thoughts, which can lead to greater prosperity."

President Yoon Suk-yeol is taking a commemorative photo with Henrik Andersen, CEO of Vestas, and Lee Chang-yang, Minister of Trade, Industry and Energy, at the 'Vestas Investment Declaration Ceremony' held at a hotel in Davos, Switzerland, on the 18th (local time). Through this investment declaration ceremony, Vestas, the world's No. 1 wind turbine manufacturer from Denmark, will invest 300 million dollars in South Korea.
[Photo by Yonhap News]

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