Middle East Investors to Flock to Korea

Large-scale investors in the Middle East are expected to rush to the 'APEC Investment Exhibition' being held in Seoul next month.
The Korea Trade-Investment Promotion Agency(KOTRA) announced on May 10 that big investors from the Middle East, including the Kuwait Investment Administration and the International Petroleum Investment Corporation of the United Arab Emirates, will participate in the exhibition held from June 2 to 5th.
The Kuwait Investment Administration is a state-run corporation that invests funds earned on the sale of oil into newly-rising markets such as Korea through several international investment banks including Morgan Stanley. It is expected to expand its investment into Korea from the current level of 20 million - 30 million dollars.
KOTRA said the International Petroleum Investment Corporation will conclude the deal on the 500 million-dollar investment into Hyundai Oil Refinery Co.
A source in KOTRA said, 'The interest of investors in the Middle East in overseas investment is growing due to the expansion of surplus money as a result of the rise in crude petroleum's price.'
Jooan Kang : jooan@joongang.co.kr