Industry ministry seeks to win more FDI from Oceania
SEJONG, Feb. 20 (Yonhap) -- South Korea's industry ministry said Wednesday it hosted conferences in Australia and New Zealand to induce businesses from Oceania to make more foreign-direct investment (FDI) in Asia's fourth-largest economy.
The Ministry of Trade, Industry and Energy said while Australia and New Zealand accounted for 2.7 percent of its trade in 2018, the two countries were responsible for only 1 percent of the total FDI won by South Korea.
Through the conferences, the ministry said it aimed to invite competitive companies from Australia and New Zealand, in the fields of software, finance, and tourism, to South Korea.
The ministry said it is important for South Korea to forge broader ties with the two countries, especially amid the escalating uncertainties in the global market, including the Washington-Beijing trade dispute and the departure of Britain from the European Union.
South Korea is an attractive investors' destination as the country holds high-level credibility, a wide network of free-trade agreements, and competitive information technology infrastructure, the ministry said.
It added South Korea is willing to provide a wide range of incentives to foreign investors, urging more companies from Oceania to set eyes on the country as well.
colin@yna.co.kr
(END)
-
New Defense Minister Lee takes office, warns of 'stern' response to possible N.K. provocations
-
(LEAD) Yoon taps ex-deputy NSA for spy chief
-
Gov't to significantly increase international flights to meet travel demand
-
(2nd LD) BTS wins three Billboard Music Awards, marking 6th year to win an award
-
Psy returns to Billboard Hot 100 after 7 years with 'That That'
-
Full text of President Yoon's inaugural address
-
(2nd LD) Yoon offers to revive N.K. economy with 'audacious plan'
-
S. Korea to send condolence delegation to UAE over death of president
-
(LEAD) Yoon to take oath of office as S. Korea's new president
-
(LEAD) Moon arrives at retirement home after attending Yoon's inauguration ceremony
-
(LEAD) Crypto investor probed for alleged trespassing at Terraform CEO's home
-
S. Korean volunteer fighter in Ukraine doesn't regret his action despite facing imprisonment at home
-
S. Korean Navy SEAL-turned-YouTuber in Ukraine claims to be injured
-
Crypto investor probed over allegedly visiting house of Terraform's CEO
-
N. Korea asks China for help in fight against COVID-19: source