Yoon: "Foreign Direct Investment to Hit Record High This Year"

Yoon Chairs Cabinet Meeting at Yongsan Presidential Office
Directly Explains Achievements of APEC, UK, and France Visits

President Yoon Suk-yeol stated on the 28th, "This year’s foreign direct investment is expected to surpass last year’s record, which was the highest ever."

In his opening remarks at the Cabinet meeting held at the Yongsan Presidential Office on the same day, President Yoon said, "We actively conducted sales diplomacy during the APEC Summit. U.S. automobile and semiconductor companies reported investments totaling $1.16 billion. This investment attraction is expected to result in an annual export expansion and import substitution effect exceeding 4.5 trillion won."

President Yoon also referred to the Asia-Pacific Economic Cooperation (APEC) Summit and the Indo-Pacific Economic Framework (IPEF) Summit held during his four-day, two-night visit to San Francisco, USA, starting on the 15th, mentioning efforts to restore supply chains and the government’s initiatives.

He mentioned meeting with Tim Cook, CEO of Apple, the world’s largest ICT company, to discuss ways for Korean companies to participate more in the manufacturing of Apple products, and noted that during summit talks with Peru, Chile, Vietnam, and Japan, they agreed to expand cooperation in defense, supply chains, and infrastructure.

[Image source=Yonhap News]

He also explained his visits abroad, including the state visit to the United Kingdom and the trip to France for the 2030 Busan World Expo bid. During the UK state visit, President Yoon explained the elevation of Korea-UK relations to a comprehensive strategic partnership, the 'Downing Agreement' adopted with Prime Minister Rishi Sunak, and the agreement to improve the Korea-UK Free Trade Agreement (FTA), highlighting cooperation established across all fields including defense and security, economy and finance, digital, and bio sectors.

Regarding the decision on the host city for the Busan World Expo, which will be made around midnight on the 29th, he said, "The diplomatic corps residing in Paris have expressed that the Korean government and companies working as one team is very impressive and moving," adding, "One Team Korea will give its all until the final whistle blows after midnight today."

He further emphasized, "Over the past year and a half, as we have worked toward the Busan Expo, Korea has gained more friends in the international community, and the world has come to recognize Korea’s dynamism and potential."

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