KOTRA Successfully Concludes '2020 Foreign Investment Week'

144 Potential Investment Companies Participate... 321 Investment Attraction Consultations Conducted

The 2020 Foreign Investment Week has concluded. Kwon Pyung-oh, President of KOTRA, announced the opening online on the 11th. (Photo by KOTRA)

[Asia Economy Reporter Kim Ji-hee] KOTRA announced on the 22nd that the '2020 Foreign Investment Week,' held online from the 11th to the 18th, has concluded. This event, marking its 16th year, was held under the theme 'Smart Innovation and Safe Growth with Korea.'

KOTRA, together with the Ministry of Trade, Industry and Energy and the International Broadcasting Exchange Foundation, introduced Korea's innovation capabilities and excellent investment environment, including K-quarantine, to foreign investors. Various programs were prepared, including the Innovation Growth Forum, Regional Key Industry Forum, Promising Industry Briefings, Investment Attraction Consultations, and meetings with overseas media and foreign correspondents in Korea.

This year, the event was conducted in a non-face-to-face manner through online media such as broadcasting and KOTRA's YouTube channel. In particular, the Innovation Growth Forum and Regional Key Industry Forum were broadcast to 101 countries via Arirang International Broadcasting.

The Investment Attraction Consultations involved 144 potential investment companies, including 59 companies in core industries such as materials, parts, and equipment; 33 companies in new industries such as bio and information and communications; and 52 companies in service industries such as logistics and finance. Domestically, 204 companies and local governments seeking investment participated, conducting 321 investment consultation sessions. Discussions on investments worth $940 million took place.

As of the third quarter of this year, the reported amount of foreign direct investment (FDI) recorded $12.9 billion, a 4.4% decrease compared to the same period last year. KOTRA President Kwon Pyung-oh stated, "We will continue to expand investment attraction in key growth sectors such as materials, parts, equipment, and advanced industries."