Seoul: South Korea's industry ministry launched a conference on Wednesday, highlighting the government's efforts to attract foreign direct investment (FDI) by creating a favorable business environment. The annual Invest Korea Summit kicked off in Seoul for a three-day run, drawing over 2,000 participants from global companies and governments, according to the Ministry of Trade, Industry and Energy.According to Yonhap News Agency, Industry Minister Ahn Duk-geun emphasized South Korea's position as an optimal partner for foreign investors amid the rapidly changing global environment. Ahn stated that the nation will continue its efforts to become a global investment hub, driven by cutting-edge industries, while maintaining a stable business environment and reducing unnecessary regulations.During the event, South Korea unveiled seven new FDI projects with a combined value of US$920 million. These projects include investments in semiconductor equipment, auto parts, and offshore power generation industries. FDI pledges to South Korea increased by 5.2 percent over the January-September period, supported by the strong performance of the manufacturing sector.South Korea received $25.18 billion in FDI commitments during the first nine months of 2024, marking the highest amount since the country began compiling such data in 1962, as shown by government data last month. The government plans to maintain this momentum to achieve a record FDI performance for all of 2024 and to establish itself as a key player in the global supply chain for cutting-edge industries.
- October 12, 2026
