Yoon Expresses Commitment to Support Advanced Industry Investment
South Korea-Europe Expected to Strengthen Supply Chain and Advanced Technology Cooperation
President Yoon Suk-yeol attended the 'Europe Region Investment Declaration Ceremony' held on the third day of his visit to France on the 21st (local time) and expressed his gratitude for the investment declaration of a total of 1.2 trillion won (940 million dollars) from six advanced companies in the European region.
At the investment declaration ceremony held at a hotel in central Paris on the afternoon of the same day, President Yoon personally thanked the CEOs of the six companies that decided on large-scale investments and expressed the Korean government's commitment to supporting investment in advanced industries.
The companies that declared investments this time are six firms: France's Imeris, Belgium's Umicoa, Germany's Continental, the United Kingdom's Nylecast, Norway's Equinor, and Denmark's CIP.
The six companies are expected to proceed with domestic investments related to advanced industries such as secondary batteries, electric vehicles, offshore wind power, and advanced materials, which the presidential office believes will strengthen the supply chain and advanced technology cooperation between Korea and Europe.
The investment in secondary battery core material production facilities by Imeris and Umicoa is expected to contribute to establishing a stable supply chain for secondary batteries, whose demand has recently surged.
Additionally, Continental and Nylecast are expected to strengthen cooperation between Korea and Europe in the production facilities of electric vehicles, shipbuilding materials, and components, respectively.
In the eco-friendly sector, the establishment of offshore wind power complexes by Equinor and CIP is anticipated to provide an opportunity to aid global efforts to address climate change.
The presidential office stated, "Going forward, the government will not only attract investments from advanced companies but also continuously improve the investment environment to foster domestic job creation and establish an innovative industrial ecosystem."
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