Trade, Industry and Energy Minister Paik Ungyu spoke at the 17th Foreign Company Day at a hotel in Seoul on November 7.
The Ministry of Trade, Industry and Energy and the Korea Foreign Company Association (FORCA) co-hosted the annual event to promote foreign investment into Korea.
In his speech, Minister Paik underscored the contribution of foreign companies to the Korean economy – There are more than 17,000 foreign-invested firms registered in Korea and they represent 12 percent of the total revenues of businesses in Korea, 21 percent of exports, and 6 percent of employment. The Minister said, “The government will actively foster the environment where foreign investors can focus on their business activities, by supporting investment into promising industries, reinforcing support linked to job creation, and helping foreign companies to settle better.
At the event, the Minister awarded 47 persons who have contributed to attracting foreign investment. Umicore Korea General Manager Jee Jung-seok received the Silver Tower Order of Industrial Service Merit.
The 2017 Foreign Company Day was attended by some 400 representatives from foreign chambers of commerce in Korea, foreign investors, and relevant agencies. They include FORCA Chairman Lee Sung-hyun, Ambassador of the European Union to Korea Michael Reiterer, and French Korean Chamber of Commerce and Industry (FKCCI) Chairman David-Pierre Jalicon.