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ECCK Participates in Meeting with President Moon Jae-in
(Photo = Cheong Wa Dae)
On February 17, ECCK Chairperson Dirk Lukat participated in a meeting with President Moon Jae-in, “Dialogue with Foreign-Invested Companies” along with foreign-invested companies, foreign chambers in Korea, Korea Foreign Company Association, and KOTRA at Cheong Wa Dae.
President Moon expressed his gratitude to the attendees for the record-breaking volume of foreign investment in Korea in 2021 despite the COVID-19 pandemic and stated that the government plans to support foreign-invested companies by expanding incentives, deregulation, and expansion of FTA (free trade agreement) platforms, etc.
During the meeting, participants suggested that in order for a continued investment of foreign companies in Korea, it would be necessary to expand incentives such as investment tax credits, cash support, and plant infrastructure expansion and proposed measures to ease regulations, such as simplifying import customs procedures and simplifying quarantine procedures for foreign investors entering and leaving the country. In addition, it was emphasized that Korea be more vocal in international trade and related policies such as the adherence to international standards and ensuring complete commitment in reaching the climate targets.
In response to this, relevant government ministries assured that they would closely review and cooperate to improve various regulations.
ECCK Chairperson Dirk Lukat commented that “We appreciate the commitment of the Korean Government to foreign investment and hope for the government’s continued and constructive dialogue with the foreign business community for a prospering Korean economy.”
ECCK Participates in Meeting with President Moon Jae-in
(Photo = Cheong Wa Dae)
On February 17, ECCK Chairperson Dirk Lukat participated in a meeting with President Moon Jae-in, “Dialogue with Foreign-Invested Companies” along with foreign-invested companies, foreign chambers in Korea, Korea Foreign Company Association, and KOTRA at Cheong Wa Dae.
President Moon expressed his gratitude to the attendees for the record-breaking volume of foreign investment in Korea in 2021 despite the COVID-19 pandemic and stated that the government plans to support foreign-invested companies by expanding incentives, deregulation, and expansion of FTA (free trade agreement) platforms, etc.
During the meeting, participants suggested that in order for a continued investment of foreign companies in Korea, it would be necessary to expand incentives such as investment tax credits, cash support, and plant infrastructure expansion and proposed measures to ease regulations, such as simplifying import customs procedures and simplifying quarantine procedures for foreign investors entering and leaving the country. In addition, it was emphasized that Korea be more vocal in international trade and related policies such as the adherence to international standards and ensuring complete commitment in reaching the climate targets.
In response to this, relevant government ministries assured that they would closely review and cooperate to improve various regulations.
ECCK Chairperson Dirk Lukat commented that “We appreciate the commitment of the Korean Government to foreign investment and hope for the government’s continued and constructive dialogue with the foreign business community for a prospering Korean economy.”
(Photo = NEWSIS)