Chasing foreign investment
Oh Young-ho, president of the Korea Trade-Investment Promotion Agency (Kotra), left, and Yun Yong-ro, president of Korea Exchange Bank (KEB), signed an agreement yesterday to work together to expand foreign direct investment (FDI) in Korea. Both sides will offer consulting at promotional events and provide financial support such as issuing credit cards.
Despite the crisis in the euro zone and swelling crude oil prices, FDI grew 17 percent in the first quarter to $2.3 billion from the corresponding period in 2011. This is the highest figure since the global crisis in late 2008.
“Recently, we have been focusing on our corporate finance and foreign exchange marketing,” said Kwon Oh-hoon, head of KEB’s global products and services department. “Through this agreement with Kotra, we hope to attract foreign investment to Korea.” Provided by the company