The government will step up efforts to attract China’s investment with an aim to increase the sum more than 10-fold to $2 billion in 2015, a state-run trade promotion agency said Monday.
The Korea Trade-Investment Promotion Agency announced the plan to notch up the annual amount of Chinese investment to $500 million for this year, more than triple the amount of a year earlier, further to $1 billion in 2012 and $2 billion in 2015, making China the largest foreign investor nation.
Under the plan, China Plus Project, KOTRA launched promotion divisions named “China Desk” at its Seoul headquarters and Shanghai branch in May.
The agency is planning to establish more offices in Dalian, Chengdu and Wuhan through 2012.
The agency is planning to establish more offices in Dalian, Chengdu and Wuhan through 2012.
KBC operates five regional offices across China, including in Beijing and Shanghai, offering consultations to Chinese investors.
Also, Korea and China have agreed to set up an investment cooperation network to share information among companies, investment support agencies and local governments, while building a database of domestic firms seeking Chinese capital, KOTRA said.
The Korean government has strived to lure foreign direct investment since the financial crisis more than a decade ago, as foreign direct investment is crucial for the Korean economy as it fuels local economic growth and creates new jobs.
By injecting new Chinese capital, the government hopes to spark greater economic recovery from the recent global recession.
Korea attracted about $11 billion in foreign investment last year, and estimates it will have attracted roughly $13 billion by the end of this year, according to the Ministry of Knowledge Economy.
Also, Korea and China have agreed to set up an investment cooperation network to share information among companies, investment support agencies and local governments, while building a database of domestic firms seeking Chinese capital, KOTRA said.
The Korean government has strived to lure foreign direct investment since the financial crisis more than a decade ago, as foreign direct investment is crucial for the Korean economy as it fuels local economic growth and creates new jobs.
By injecting new Chinese capital, the government hopes to spark greater economic recovery from the recent global recession.
Korea attracted about $11 billion in foreign investment last year, and estimates it will have attracted roughly $13 billion by the end of this year, according to the Ministry of Knowledge Economy.
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