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Former industry minister appointed ambassador-at-large for international investment

Published: 06 Jan. 2025, 15:27

This file photo, released by the Korea Chamber of Commerce & Industry, shows Choi Joong-Kyung, a former knowledge economy minister, speaking during an event in Seoul on Sept. 23, 2024. [YONHAP]

A former industry minister has been appointed as the country's special representative tasked with promoting foreign direct investment (FDI) to Korea, the industry ministry said Monday.

Choi Joong-Kyung, who served as the knowledge economy minister in 2011, the equivalent of the current industry minister, will serve as the ambassador-at-large for international investment under a one-year term, according to the Ministry of Trade, Industry and Energy.

The ministry said the appointment aligns with the government's efforts to proactively promote Korea's strong economic fundamentals to the global market and maintain momentum in attracting FDI.

"[Choi] will meet with foreign investors and representatives from related organizations. He will also visit FDI-related institutions overseas and meet with key officials," the ministry said.

The combined FDI to Korea, meanwhile, amounted to $33 billion in 2024, setting a new record by rising from $32.7 billion tallied the previous year.

Yonhap