Foreigners Optimistic on Korean Economy

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Foreigners Optimistic on Korean Economy

Eight out of ten foreign companies surveyed are evaluating that the Korean economy has been in a steady orbit of recovery, and worthy of investment.
Results of a recent research survey were released by the Korea Trade and Investment Promotion Agency(KOTRA) on March 16. Foreign trade offices- 26 from North America, Europe(55), Asia(35) and 4 from other regions- participated in a questionaire on the Korean economic situation.
About 84 percent of respondants evaluated that Korea's economy has entered a stable trajectory, with 93 percent of business groups in Asia positively viewing Korea's recovery pace.
Furthermore, 70 percent replied that the current restructuring movement will be successfully completed through the government's firm resolve.
Ninety-one percent asserted that they would invest in Korea within three years. Although many felt there was a bottleneck for investors mainly due to restrictions on owning shares and a cumbersome administrative process.
A source from KOTRA said, 'Although the government has opened its door to foreign investors and companies, many of them do not know about the changes in Korea. We need active public relations from this point on.'
Hwashik Bong

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