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Invest KOREA Summit 2024 to carry forward momentum towards attaining all-time high FDI
  • Registration date2024-11-06
  • Attached file

The Ministry of Trade, Industry and Energy (MOTIE) of the Republic of Korea is launching the Invest KOREA Summit (IKS) 2024 from November 6–8 in Seoul.


IKS 2024 will be held with the participation of over 2,000 attendees, composed of foreign investors, companies from home and abroad, the chambers of commerce in Korea, embassies to Korea, and local government bodies, who will be taking part in various IKS programs such as the investment declaration ceremony, Invest KOREA (IK) Conference, investor consultations, local governments’ town hall meetings, startup forums, and a foreign media press conference.


With foreign direct investment (FDI) pledged to Korea over the first three quarters hitting an all-time high of USD 25.2 billion, the Government plans to give full measure to carry the momentum forward and seek ways to foster the country into a high-tech supply chain hub through greater investment from global advanced companies.


Kicking off IKS 2024 is the foreign investment declaration ceremony, announcing a $0.9 billion worth of investments by seven global companies specializing in semiconductor equipment, automobile parts, offshore wind power, and logistics, followed by a ceremony commemorating the new designation of two global companies’ local headquarters in Korea, the first in nine years since the designation of five global companies’ local headquarters in 2015. The designation is meaningful in that Korea joins hands with global companies to nurture its high-tech industrial ecosystem. Multi-national American information technology company Hewlett Packard (HP) will be overseeing global R&D operations in Korea and the world-leading Danish wind turbine maker Vestas is to establish a wind power facility hub, leading to anticipation for quality jobs as well.


Next, beginning with MOTIE Minister Dukgeun Ahn’s congratulatory message, the IK Conference invites the world’s oldest operating pharmaceutical firm Merck’s Chief Technology Officer (CTO) Karen Madden and Korea’s Presidential Committee on AI (PCAI) Vice Chairman Yeom Jae-ho as keynote speakers, followed by discussions on Korea’s investment environment and measures to enhance investment appeal with representatives of major foreign-invested companies like Onsemi, ASM, Sartorius, and Boeing. Not only that, but 140 foreign investor companies and 330 domestic firms and institutions are engaging in investment consultations for tangible outcomes.


Meanwhile, the local government town hall meeting aims to promote each local government group to foreign investors, while the startup forum connects 50 global investors to 120 promising Korean startups and the foreign media press conference has 33 media outlets from 20 countries covering Korea’s strengths and meaningful achievements with regard to its investment environment.


In his congratulatory speech, MOTIE Minister Ahn emphasizes commitment to policy efforts to nurture Korea into a high-tech global business hub through stronger advanced industrial capacity, technology and talent innovation, trade landscape stability, and regulatory upheaval.