KOTRA, Gyeongbuk Province and Gyeongju City Host 'APEC Member Countries and Gyeongbuk Investment Forum' with 300 Business Leaders in Attendance

APEC-Linked Investment Event Held
Cooperation Discussed at Investment Promotion and Expansion Consultations
Gyeongbuk Province and Gyeongju City Present Semiconductors and Smart Tourism IR
Additional APEC-Linked Events Planned for Late October

The Korea Trade-Investment Promotion Agency (KOTRA) announced that it held the "Asia-Pacific Economic Cooperation (APEC) Member Countries and Gyeongbuk Province Investment Forum" on the 16th in collaboration with Gyeongsangbuk-do Province and Gyeongju City. The event was attended by representatives from 13 APEC member countries and more than 300 domestic and international businesspeople.

KOTRA held the "APEC Member Countries and Gyeongsangbuk-do Investment Forum" on the 16th together with Gyeongsangbuk-do and Gyeongju City. Lee Cheol-woo, Governor of Gyeongsangbuk-do (fifth from the right in the front row), Joo Nak-young, Mayor of Gyeongju City (fourth from the right in the front row), Kim Doo-sik, Foreign Investment Ombudsman (third from the right in the front row), and other key figures are posing for a commemorative photo. KOTRA

This event was organized to promote foreign investment in Gyeongbuk Province and Gyeongju City and to expand mutual investment within the APEC region, focusing on sharing information and opportunities for two-way investment in advanced industries. The overwhelming significance of APEC member countries in Korea's trade and investment was also considered; nine out of Korea's top ten trading partners are APEC members, and last year, 64% of foreign direct investment inflows came from APEC member countries.

Gyeongsangbuk-do Province is emphasizing the development of advanced industries such as semiconductors, secondary batteries, biotechnology, and future mobility, offering benefits such as tax reductions to foreign-invested companies in these sectors. Gyeongju City, the host of the upcoming APEC Summit, is leveraging its cultural heritage and tourism resources to promote smart tourism, eco-friendly industrial complexes, the development of materials and components industries, and the establishment of a sustainable industrial ecosystem.

During the forum, Gyeongbuk Province and Gyeongju City presented their strategic industries and investment environments, followed by presentations from member countries such as Vietnam, Indonesia, and Mexico, who introduced their own investment policies and opportunities, thereby sharing avenues for mutual cooperation.

In the morning, Gyeongsangbuk-do Province and Gyeongju City held investment promotion meetings with 22 foreign-invested companies, while in the afternoon, an overseas expansion consultation session took place with participation from APEC member countries and Korean companies. Representatives from the State of Texas in the United States, the Vietnam Trade Promotion Agency, and local industrial complex officials also provided consultations on legal, tax, and labor issues for Korean companies considering overseas expansion.

Lee Cheol-woo, Governor of Gyeongsangbuk-do Province, stated, "Gyeongsangbuk-do is providing attractive opportunities for global investors based on future growth engines such as advanced industries and eco-friendly energy. We will actively support Gyeongbuk's leap forward as a core investment hub in the Asia-Pacific region, using this forum as a stepping stone."

Kang Kyung-sung, President of KOTRA, said, "This forum was held in conjunction with the APEC Summit, providing an opportunity for member countries and domestic and international companies to expand investment and economic cooperation. We will continue to strengthen collaboration with local governments to attract foreign investment and support Korean companies' overseas expansion."

KOTRA previously held the "Korea-APEC Business Partnership" at the end of last month to enhance APEC outcomes and leverage them as opportunities for global economic cooperation. At the end of this month, the agency plans to hold events such as "Export Boom-Up Korea Week" and the "Invest Korea Summit."