Korea aims to attract "record-breaking" amount of FDI this year

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Korea aims to attract "record-breaking" amount of FDI this year

The Industry Ministry said Wednesday it will continue to make efforts to improve the business environment for foreign firms operating in Korea as it seeks to attract a record amount of foreign direct investment (FDI) this year.
 
Minister of Trade, Industry and Energy Ahn Duk-geun made the remark during a meeting in Seoul with representatives from foreign companies and organizations.
 
“It is significant that the current administration has consistently attracted record-breaking annual amounts of foreign investment each year,” Ahn said.
 
He added that despite the challenging business environment, Korea will continue efforts to attract competitive global companies with cutting-edge technologies through regulatory reforms that meet global standards.
 
“Under the target of hosting FDI of $35 billion this year, we will continue to make more proactive communications with global business groups and foreign firms,” Ahn added.
 
During the meeting, participants expressed gratitude to the government for listening closely to the needs of foreign businesses and asked for the expansion of tax and financial incentives to further support their operations and investments.
 
FDI pledges to Korea, meanwhile, jumped 25.1 percent on year in the first quarter to reach $7.05 billion.
 
Yonhap 
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