Seoul Mayor Oh Se-hoon said on the 13th to foreign investors, “The fruits of investing in Korea now will be greater than ever.”
Oh made these remarks during an emergency economic meeting with foreign financial investment firms and foreign-invested companies at Seoul City Hall in the morning, emphasizing, “Korea is quickly regaining stability.”
The meeting included participation from foreign-invested companies like Pascal, Eyeline Studio, and Crush, and foreign investors such as Eurazeo and Draper Startup House. Attendees from foreign financial firms included HSBC Securities, Kyobo AXA Asset Management, Cellinion Asset Management, and NinjaTrader. Additionally, representatives from related organizations such as the Seoul Korea Foreign Company Association, the American Chamber of Commerce in Korea, the European Chamber of Commerce in Korea, the British Chamber of Commerce in Korea, and the Korean-French Chamber of Commerce also participated.
Mayor Oh told attendees at the meeting, “Seoul is a safe city where the everyday life of citizens is maintained peacefully and remains an attractive investment destination.” He added, “The city is implementing policies to revitalize the tech innovation ecosystem, such as investing in future promising industries with a 5 trillion won ‘Seoul Vision 2030 Fund,’ demonstrating high competitiveness in various industries.”
The Seoul Vision 2030 Fund aims to create a total fund of 5 trillion won over four years from 2023 to 2026, focusing investments on future strategic industries. It combines the city's budget, government, and private resources to concentrate investments in six major fields including bio, advanced manufacturing, and digital transformation.
According to the city of Seoul, Philip van Hooft, chairman of the European Chamber of Commerce in Korea, who attended the meeting, said, “If the city of Seoul continues to provide feedback on even small requests from foreign investors as it does now, investor satisfaction will increase and the derivative effects will be significant.” Frédéric Bellemin, chief operating officer of Kyobo AXA Asset Management, noted, “The most crucial factor for capital movement is long-term stability,” and requested, “Please continue to share regular information through the first quarter of next year.”
In response, Mayor Oh stated, “I will provide feedback on all the requests raised today,” and pledged, “I will make every effort to reduce investment risks and restore the investment environment.”