BUSINESS

Govt. aims to attract more than $20 billion in FDI this year

By Yonhap
  • Published : Mar 11, 2018 - 14:42
  • Updated : Mar 11, 2018 - 14:43
Korea aims to attract more than $20 billion in annual foreign direct investment for the fourth year in a row in 2018, the government said Sunday.

If the target is reached, some 10,000 high quality jobs will be created, the Ministry of Trade, Industry and Energy said. The goal was set at the inaugural meeting of the foreign investment committee held late last month, where policymakers approved a plan to stimulate FDI for the year, it said.

"The government wants to maintain last year's momentum in regard to FDI," the ministry stressed. Last year, Asia's fourth-largest economy attracted a record high of $22.94 billion in investment from abroad. In addition to getting more foreigners to invest in the country, Seoul wants to attract value added, new technology businesses.

(Yonhap)

"A strategy to get more future-oriented investment is being planned," an official source said.

In particular, the government wants to bring in investment that will bolster 12 industries with considerable growth potential, including areas such as cutting-edge biotech, semiconductors, rechargeable batteries and autos.

The government is looking into holding more hiring fairs for FDI companies in the country, and improving living and residential conditions for foreigners that can make the country more attractive.(Yonhap)


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