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FKCCI participates in the Dialogue between Moon Jae-In and Foreign-Invested Companies

On Feb 17th, the French-Korean Chamber of Commerce and Industry participated in the “Dialogue with Foreign-Invested Companies” at the Blue House.

At the meeting, President Moon Jae-in expressed his appreciation for foreign-invested companies and discussed future foreign investment performance and policy directions. A total of 50 high-level representatives from  corporate entities and foreign chambers of commerce in Korea attended, including FKCCI Chairman David-Pierre Jalicon, and Plastic Omnium, Dassault Systèmes and Valéo's representative on the French side.

"Currently, there are over 16 thousand foreign-invested companies operating in Korea. [...] The average annual foreign investment amount for the past five years has increased by 34% compared to the previous five year" , President Moon Jae-In said.

In particular, he emphasized that, despite the corona crisis, foreign investments in Korea reached an all-time high of nearly $30 billion last year. President Moon applauded foreign-invested companies as the driving force to revitalize the domestic economy and enhance competitiveness. To reinforce such role, he pledged tax incentives and subsidies to foreign companies in Korea that invest in the nation's strategic technologies, such as future cars, semiconductors, batteries, biotechnology, ICT and products contributing to carbon neutrality.

Among remarks from the foreign business community asserting that Korea is becoming an increasingly important market as a regional hub, participants also pointed out some desired improvements such as easing procedures to simplify movement of people and goods amid the pandemic (quarantine regulations, ....).

Read more in the official release of the Blue House (KR only): https://www1.president.go.kr/articles/11988