Renault, Heinz and Other Foreign Investments of $940 Million... Korean Prime Minister Calls It an "Opportunity for Industrial Growth"

Prime Minister Han at Invest Korea Investment Reporting Ceremony
Will Reform Killer Regulations and Make Preemptive Investments in New Industries

Five global companies, including Renault and Heinz, have reported a large-scale foreign investment worth $940 million. Prime Minister Han Duck-soo stated, "We expect this to accelerate the eco-friendly transformation of our country's industrial structure and provide an opportunity for significant growth in advanced industries."

The 'Invest Korea Summit (Busan BEXCO),' attended by Prime Minister Han on the 7th, is the largest foreign investment attraction event in Korea. At this event, five global companies decided on foreign investments totaling $940 million in fields such as carbon neutrality (Bigrim Power, Ocean Winds), quantum computing complex facilities (Heinz), future vehicles (Renault Korea), and semiconductors (TOK Advanced Materials).

Prime Minister Han Duck-soo delivering a congratulatory speech at the Invest Korea Conference.
[Photo by Yonhap News]

According to data from the Office for Government Policy Coordination, the establishment of offshore wind power complexes by Bigrim Power and Ocean Winds is expected to expand the domestic renewable energy supply to achieve carbon neutrality. Bigrim Power plans to build a manufacturing plant for key components such as wind turbine generators, significantly contributing to the expansion of the domestic wind power industry supply chain. Heinz is expected to help establish the foundation of the domestic quantum industry ecosystem by developing a quantum computing complex facility in the Busan area.

Renault Korea is anticipated to enhance regional employment and cooperative partnerships by converting its existing internal combustion engine production lines into eco-friendly vehicle production lines, thereby increasing the competitiveness of domestic eco-friendly vehicle production. TOK Advanced Materials is expected to greatly strengthen the semiconductor core materials supply chain cooperation between Korea and Japan by establishing a new manufacturing facility for photoresists used in semiconductors.

Prime Minister Han emphasized, "We will make all-out government efforts to create the world's best investment environment by reforming killer regulations, making proactive investments in advanced and new industries, and expanding stable supply chains." Additionally, he visited the Busan World Expo promotion pavilion at the event venue and cheered for Busan's bid to host the 2030 World Expo together with global business leaders and local government officials.

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