[Invest Seoul] Foreign Invested Company Day is Held for Top Contributors to Investment, Job Creation, and Social Welfare

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Seoul Metropolitan Government held the 2016 Seoul Foreign Invested Company Day at the Islands Sevit along the Han River in Seoul

On November 7, the Seoul Metropolitan Government held the 2016 Seoul Foreign Invested Company Day at the Islands Sevit along the Han River in Seoul. Top foreign-invested companies that have contributed to the economy and social development of Seoul through their active investments in the city were recognized during this event held to encourage further investment. The approximately 150 people in attendance included Seoul Mayor Park Won-soon, President Kim Jin-cheol of the Korea Foreign Company Association, twenty-one members of the Foreign Investment Advisory Council (FIAC), CEOs of foreign invested companies, chairpersons of foreign chambers of commerce in Korea, and foreign diplomats representing their countries in Korea.

At this year’s Seoul Foreign Invested Company Day event—the first time this event has been held—the Mayor of Seoul presented foreign companies that have participated in the economic development of the city with awards in three categories: investment, job creation, and corporate social responsibility. In the investment category, Grévin Seoul Co., Ltd. was selected thanks to the company’s success in attracting more than 100,000 foreign tourists to Seoul over one year, as well as its investment of KRW 19 billion to provide more variety in the Seoul tourism sector and raise the city’s cultural level.

The Seoul branch of ICBC was recognized for creating jobs. Not only did ICBC of China increase its investment in Seoul over the last five years by around KRW 1 billion, but the bank also created new employment for around 60 people. Notably, ICBC has been a leader in providing jobs to young people and women.

Finally, the corporate social responsibility award went to Herbert Smith Freehills (HSF), a firm that continuously strives to improve the plight of the homeless and North Korean defectors.

Director Seo Dong-rok of the Economic Planning Headquarters at Seoul Metropolitan Government explained, “In an environment of slow investment by local Korean companies, the role of foreign company investment to support the economy takes on greater importance. We will continue our efforts to make Seoul into a city where foreign investors can find attractive opportunities and that is a good place to do business.”

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sunny lee