“Foreign companies of foreigners wishing to invest in Korea is decreasing”, FORCA chairman Lee
Occupying 6% of entire employment in the Korean economy, foreign
companies are contributing to the national security on the peninsular
as well to a some degree.
In that regard, even though foreign investments into the Korean
market are a little flinching in recent times, their existence is a great
asset for the Korean economy.
Minister Paik Un-gyu (center) from the Ministry of Trade, Industry & Energey poses with all the award winners during the opening ceremony of the 2017 Foreign Company Day. (Courtesy: Ministry of Trade, Industry & Energy) |
To appreciate their contribution for the Korean economy, the 2017
Foreign Company Day was held in the Davinci Ballroom, Le Meridien
Seoul on Nov. 7th evening while over 10 envoys from the Diplomatic
Corps. were on hand including EU Amb. Michael Reiterer, Belgium
Amb. Adrien Theatre, Morocco Amb. Chafik Rachadi, Jordan Amb.
Adel Mohammad Adaileh, Romania Amb. Mihai Ciompec, Poland
Amb. Piotr Ostaszewski,
Norway Amb. Jan Grevstad, Belarus Amb. Andrei Popkov and last
but not least new-accredited Ghana Amb. Difie Kusi Agyarko etc.
On behalf of all foreign companies, chairman Lee Sung-hyun from Korea Foreign Company Association pointed out:
“The business environment surrounding us is not very smooth”,
adding due to national security issues related to North Korea’s nuclear threats, and conflict of interest with neighbouring
countries, foreign companies of foreigners wishing to invest in
Korea is decreasing.
Accounting for 21% of Korea’s exports, foreign companies are playing a crucial role in economic
development and also contributing hugely in the aspect of national
security as well, according to Lee.
As the biggest trader and the biggest investor in the world, EU
Amb. Michael Reiterer who resumed a congratulatory remarks
guest role, said: “We continue to highlight the importance of creating
an expanded and secure market for goods and services as well as
a stable and predictable environment for investment. We are
constantly reaching out to all those likeminded partners, among
which Korea stands out. Korea experienced like other export-dependent Asian economies that open markets in the EU and US
have been the engines of growth, development and prosperity -
advocating and exercising free and fair trade is essential.”.