KOTRA Holds Regional Councils... Discussing Foreign Investment Attraction and Job Creation

Discussion on Cooperation Plans for Attracting Foreign Investment with Local Governments in Six Regions Including Daegyeong Area

[Asia Economy Reporter Park Sunmi] KOTRA announced on the 13th that it will hold a local government tour foreign investment attraction council to discuss strengthening foreign investment attraction and job creation.

Starting with the ‘Daegyeong Region Investment Attraction Council’ held in Daegu on the day, this event, held six times until the 29th, will be attended by 13 local governments and 9 free economic zone authorities. The council will be conducted in six regional blocks: Daegyeong, Southeast, Capital, Gangwon, Honam, and Chungcheong, where cooperation plans for attracting foreign investment linked to new industries in each region and creating quality local jobs through this will be discussed.

The necessity of attracting foreign investment for regional economic revitalization and job creation has been steadily raised. Accordingly, KOTRA has newly assigned investment attraction functions to local support teams operating nationwide from this year, expanding their role from export-centered support to investment attraction.

KOTRA’s local support teams plan to intensively promote specialized ‘public-private cooperative investment attraction’ projects such as investment attraction IR and forums linked to new industries in each region through cooperation with local governments, free economic zone authorities, and representative local companies. On the 14th, to promote the growth and revitalization of the hydrogen industry in the Ulsan region, KOTRA will strengthen cooperation with local governments by signing a memorandum of understanding (MOU) with five cooperating organizations, including the Ulsan Free Economic Zone Authority.

Jang Sanghyun, CEO of KOTRA Invest Korea, stated, “Attracting foreign investment outside the capital region is an important issue directly connected to regional economic revitalization as well as national balanced development,” and expressed his determination, saying, “We will strengthen cooperation with each region to actively expand investment attraction.”