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FKCCI participates in Roundtable Meeting of the Foreign Investor Advisory Council

On November 16th, the Ministry of Commerce Industry and Energy (MOTIE) organized the first meeting of the Foreign Investor Advisory Council.

On November 16th, the Ministry of Commerce Industry and Energy (MOTIE) organized the first meeting of the Foreign Investor Advisory Council at the Westin Choson Hotel in Seoul to discuss ways to expand Foreign Investments.

The meeting was attended by representatives from foreign invested companies and heads of foreign Chambers of Commerce and Industry in Korea, including Mr. David-Pierre Jalicon, FKCCI Chairman, and Pascal Robin, General Manager of Sanofi Pasteur Korea.

The meeting’s objective was to discuss business issues met by foreign investors in Korea and ways for the government to review support measures such as easing of products certification processes and regulatory barriers.

Representatives from the foreign Chambers in Korea, including France, the US, Europe, Japan, and China stressed the importance of the support from the government to ease the challenges and facilitate exports. Sector wise, foreign invested companies also requested governmental support for green hydrogen production and ease the certification for household products.

FKCCI and the French business community in Korea especially raised specific issues in the fields of energy, carbon, environment and health. We conveyed that French companies  are committed to achieve objectives to reduce greenhouse gas emissions to contribute to France’s goal toreach carbon neutrality by 2050 and have been developing expertise in various green economy sectors such as green energy, carbon cost and water supply. In every sectors, French companies are willing to take part in concrete actions for the environment in Korea, but different pace and standards in green policy directions and implementation between Korean and France could slow down actions.

Mr. Yeo Han-Gu, minister for Trade communicated a positive message that "the government will create an investment-friendly environment for overcoming the global economic crisis and supply chain instability from the COVID-19, and the role of the foreign investment is more important than ever."

Mr. Yeo stressed, "We hope that foreign-invested companies will actively participate in related investments and Korea's Carbon Neutral goals, formalized through the 26th UN Climate Change Conference (COP26), could become a new business opportunity and accelerate the development of carbon reduction technologies and promotion of the supply of new and renewable energy."

According to the Ministry of Industry, the amount of foreign investment in 2021 reached $21.85 billion in November, exceeding last year's annual performance of $20.75 billion.

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