Korean firms head to D.C. to push foreign investment

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Korean firms head to D.C. to push foreign investment

Published: 16 Jun. 2017, 19:56

Business leaders of 29 Korean companies will participate in a U.S. government event to promote foreign investment, the U.S. Embassy in Seoul said Friday.

Representatives from Korean companies will travel to Washington, D.C., for the 2017 SelectUSA Investment Summit at the Gaylord National Resort and Convention Center from Sunday to Tuesday, according to the embassy.

This year’s delegation marks the largest the country has sent to the event, the embassy said.

Organized by the U.S. Department of Commerce’s International Trade Administration, SelectUSA promotes and facilitates business investment in the U.S. and assists local economic development bodies in drawing foreign investment.

The U.S. is currently home to more foreign direct investment than any other country in the world, the embassy said. Korea is the 14th-largest source of foreign direct investment.

“We are happy to welcome 47 business executives from Korea to this year’s Summit,” the embassy quoted David Gossack, Minister Counselor for Commercial Affairs at the Embassy and delegation leader, as saying.

Yonhap