The Finance Minister of South Korea encouraged European companies to expand their investments in the country. Hyun Oh-seok has assured that the government of South Korea will continue to provide support and help the companies to do business with security.
The comments were made during a meeting with authorities of the EU member countries, which was held in central Seoul. The meeting was held a week after the finance minster met with foreign business leaders and encouraged them to increase local investment, as well as employment. Hyun in his speech said, “The Korean government has continued to push forward its efforts to attract foreign investment. We have steadily lowered entry barriers for foreign investors and provided diverse incentives such as tax exemption and financial support”.
The finance minister went on to say that the Korean government will continue to offer their support to EU companies and to help them invest in Korea with assured security. The move has been made in an attempt to make Korea a country where more foreign companies would invest in the future.
In his speech, Hyun presented an attractive outlook on the South Korean economy, comparing it to that of the advanced countries whose recovery trends are receiving traction. The finance minister also mentioned a fast recovery of the economy in Europe, which can be good for the Korean growth.
Photo Credits: Bloomberg