Yoon: "Attract Large-Scale Investment Through Sales Diplomacy and Institutional Environment Creation" (Update)

Emphasis on Creating a Business Environment Including Regulatory Deregulation and Outcomes of France and Vietnam Visits at the Cabinet Meeting
Cabinet Members Urged to Fully Focus on Livelihood and Economy

President Yoon Suk-yeol emphasized on the 27th that "the large-scale attraction of investment was made possible by sales diplomacy, efforts to improve Korea-US and Korea-Japan relations, and significantly easing regulations to create an institutional environment that businesses need," in relation to economic and sales diplomacy including his recent visits to France and Vietnam.

At the Cabinet meeting held at the Yongsan Presidential Office on the same day, President Yoon stated, "To overcome the global complex crisis and continue the growth of our economy, which is highly dependent on external factors, I have actively engaged in economic and sales diplomacy as a salesperson of the Republic of Korea. The results of recent efforts are gradually becoming apparent."

[Image source=Yonhap News]

President Yoon explained the economic and diplomatic schedule during his visit to France, including attending the BIE (International Bureau of Expositions) annual general meeting PT, the Korea-France summit, and the European regional investment signing ceremony, saying, "We attracted a total investment of $940 million from six advanced European companies related to secondary batteries, electric vehicles, and offshore wind power." He added, "This means that in the first half of this year alone, we recorded investment attraction exceeding $16.5 billion, which is the largest scale ever."

Regarding the state visit to Vietnam, where he was accompanied by an economic delegation of 205 members and signed 111 MOUs with Vietnamese companies, he urged all ministries to ensure thorough follow-up measures.

He emphasized that domestic companies are expanding due to such economic-friendly actions. President Yoon said, "Since the establishment of the Saemangeum Development and Investment Agency in 2013, the scale of investment attraction in the Saemangeum National Industrial Complex was 1.5 trillion won over nine years. However, in just one year after our government took office, 30 companies decided on investments exceeding 6.6 trillion won, more than four times that amount." He promised, "We will support companies to freely operate and grow dynamically anywhere in the country, not just in Saemangeum."

He further evaluated, "Above all, this can be seen as the result of the very common-sense understanding that jobs are created by companies, not directly by government finances."

President Yoon said, "Despite still difficult economic conditions, inflation rates are slowing down, and exports and trade balance are improving," and urged, "In the second half of the year, I hope the Cabinet members will devote all efforts to stabilizing people’s livelihoods and economic recovery so that the public can feel the fruits of change."

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