Yoon Secures 1.2 Trillion Won Investment from European Companies... "Providing Clear Incentives" (Comprehensive)

Yoon Attends Investment Declaration Ceremony in Europe
Expresses Commitment to Supporting Advanced Industry Investment
Prospects for Strengthening Korea-Europe Supply Chain and Advanced Technology Cooperation

President Yoon Suk-yeol expressed his gratitude for the investment declarations totaling 1.2 trillion won (940 million dollars) from six advanced technology companies in the European region at the 'Europe Region Investment Declaration Ceremony' held on the 21st (local time), promising, "We will provide definite incentives to companies contributing to advanced industries and supply chain stability."

On the afternoon of the same day, at a hotel in central Paris where the Europe Region Investment Declaration Ceremony was held, President Yoon personally thanked the CEOs of the six companies that decided on large-scale investments and expressed the Korean government's commitment to supporting investments in advanced industries.

The companies that declared their investments this time are six firms: France's Imeris, Belgium's Umicoa, Germany's Continental, the United Kingdom's Nylacast, Norway's Equinor, and Denmark's CIP.

In his opening remarks, President Yoon emphasized, "Korea and Europe, as partners sharing universal values, have built close supply chains through mutual investments in advanced fields," adding, "With today's investment announcements from Imeris, Umicoa, Continental, Equinor, CIP, and Nylacast, the economic cooperation between Korea and Europe will be further strengthened."

He continued, "The Korean government will create the world's best investment environment so that foreign-invested companies can freely invest domestically and create jobs," stating, "We will boldly eliminate regulations that do not meet global standards and provide definite incentives to companies contributing to advanced industries and supply chain stability. If there is any support needed or difficulties during the investment process, please feel free to contact me and the Korean government at any time."

[Image source=Yonhap News]

The investment in secondary battery core material production facilities by Imeris and Umicoa is expected to contribute to establishing a stable supply chain for secondary batteries, whose demand has recently surged.

Additionally, Continental and Nylacast are expected to strengthen cooperation between Korea and Europe in the production facilities of electric vehicles, shipbuilding materials, and components.

In the eco-friendly sector, the establishment of offshore wind power complexes by Equinor and CIP is anticipated to provide an opportunity to support global efforts to address climate change.

The Presidential Office stated, "Going forward, the government will not only attract investments from advanced companies but also continuously improve the investment environment to foster an innovative industrial ecosystem along with domestic job creation."

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