Symposium in Seoul for investment into Japan

Deputy Minister for Trade Kang Sungcheon of Korea's Ministry of Trade, Industry and Energy expressed his expectation for the role of JETRO Seoul to create business opportunities, explaining that the three fields of healthcare, IoT and cross-border e-commerce will be key to further developing economic exchange between Korea and Japan in the future. This was followed by Japanese Ambassador to Korea Yasumasa Nagamine, who emphasized the importance of a cooperative framework between Korea and Japan, and expressed his desire to proactively promote economic exchange in a future-oriented manner.

In his keynote speech, JETRO Chairman and CEO Hiroyuki Ishige looked back on the 50-year history of JETRO Seoul and affirmed that Korea and Japan are important economic partners. He enthusiastically spoke on "why now is the best timing to invest in Japan" explaining the improved economic conditions under Abenomics, advantages of the Japanese business environment and benefits of doing business in Japan. In addition to that, he stated that the increase of Korean investment into Japan will further strengthen the relationship between two countries and emphasized the importance of investing in Japan now.

During the symposium, presentations were also made to introduce regional investment environments by seven local authorities in Japan: Miyagi, Chiba, Kanagawa and Shizuoka Prefectures; the Aichi-Nagoya International Business Access Center (I-BAC); the Osaka Business and Investment Center (O-BIC); and Fukuoka City. Industrial advantages, incentives and costs related to setting up a company in each area were introduced to Korean companies, and the participants were presented with alternatives other than Tokyo as an investment destination.

After the symposium, a network reception was held and a consultation corner was jointly set up by JETRO and the seven Japanese local authorities, where they received a wide variety of inquiries from a total of 65 participant companies, on topics such as crowdfunding, pharmaceuticals like oncologic drugs, greenhouse systems, cyber-security, eco-friendly semi-incombustible wood and solar technology. Many specific questions concerning establishment of local business sites were also received.