First Local Government to Establish a Dedicated Investment Promotion Agency
Business Agreements Signed with Investment Agencies from Four Countries at Launch Ceremony
Investment Attraction Control Tower... Targeting Fintech and AI
The Seoul Metropolitan Government has launched the "Seoul Investment Promotion Foundation," the first dedicated organization among local governments nationwide to focus exclusively on attracting global investment. Going forward, the foundation will oversee Seoul's investment attraction strategy, including bringing in global companies and expanding domestic companies' networks.
On November 13, the Seoul Metropolitan Government held the official launch ceremony of the Seoul Investment Promotion Foundation at the Seoul Global Center's International Conference Hall, marking the beginning of a full-scale Seoul sales campaign. The event was attended by Seoul Mayor Oh Sehoon, Seoul Metropolitan Council Chairman Choi Hojung, and more than 100 officials from related organizations, including foreign embassies, overseas investment agencies, and chambers of commerce.
The Seoul Investment Promotion Foundation is the first investment promotion agency established by a local government to respond to intensifying global competition for investment, and it completed its official registration on October 21. The foundation will serve as a control tower for attracting investment to Seoul by: establishing Seoul-specific investment strategies; providing customized support and expanding networks for companies; attracting global companies; strengthening site development marketing; and revitalizing Seoul as a financial hub.
On this day, video messages wishing for the foundation's success and future growth were sent by Alpha Lau, Director-General of Invest Hong Kong; James Kim, Chairman of the American Chamber of Commerce in Korea; and Philippe Van Hoof, Chairman of the European Chamber of Commerce in Korea, among other representatives from overseas organizations.
At the launch ceremony, Lee Jihyung, Chairman of the Seoul Investment Promotion Foundation, announced the foundation's first business plan, stating, "We will develop Seoul into Asia's leading global investment hub." In particular, Chairman Lee emphasized, "We will reorganize our structure to provide close support throughout the entire investment attraction process for each of Seoul's strategic industries, such as fintech, artificial intelligence (AI), bio, and robotics."
During the ceremony, the Seoul Investment Promotion Foundation also signed business agreements with major investment agencies from four countries: the United States, France, Japan, and Luxembourg. The agreements focus on promoting investment networks, conducting joint programs such as conferences, and exchanging information on corporate development policies and best practices. Moving forward, the foundation plans to establish regular consultative bodies with investment agencies from each country to pursue joint global investment attraction projects.
With the launch of the foundation, the Seoul Metropolitan Government plans to provide close support throughout the entire investment attraction process, while also addressing the challenges faced by foreign-invested companies and strengthening global networks. In addition, the foundation will gradually implement practical initiatives such as on-site presentations for overseas investors, global investment roadshows, and one-on-one consultation sessions.
Mayor Oh stated, "The Seoul Investment Promotion Foundation is a dedicated investment promotion agency that the city has been preparing for a long time, and it will serve as a focal point for enhancing our competitiveness on the global stage." He added, "By providing one-stop support for the entire investment process, from the first consultation to settlement and expansion, we aim to transform Seoul into a 'global investment hub city' where companies, people, capital, and technology grow together."
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