IFC to Actively Invest in Korea
The International Finance Corporation (IFC), a substructure of the IMF's International Bank for Research and Development(IBRD), plans to invest in 5 to 6 Korean companies at an undetermined date.Deepak Kana, the first president of IFC's Seoul Office which will open on November 2, announced, in a press conference on October 26, that this is a good time to invest in Korea.
He also commented that the fact of the IFC's investment will create a positive affect in terms of foreign investment.
Earlier, the IFC had invested 247 million dollars in four finance projects including convertible bonds of the Korea Long Term Credit Bank and Hana Bank and investment in H&Q's investment fund.
IFC also decided that it would invest 125 million dollars towards Honam Petrochemical, Halim and Sinmurim Paper.
He added that the IFC will increase its investment in Korea through the upcoming opening of a Seoul branch.
with the Korea JoongAng Daily
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