South Korean clinch EU firms $600 million deal

South Korea has clinched new investment deals totaling US$600 million with firms in European Union countries, achieving the annual target for foreign direct investment, Seoul’s trade ministry said Monday.

This photo provided by the Ministry of Trade, Industry and Energy, shows an investment roundtable led by Minister Sung Yun-mo (4th from R) with Europe-based companies at the Four Seasons hotel in Paris on Oct. 15, 2018. (Yonhap)

The Ministry of Trade, Industry and Energy said it secured the new deals with four EU-based companies at the investment roundtable it held in Paris. It came on the sidelines of South Korean President Moon Jae-in’s four-day state visit to France that ends Tuesday.

Moon is currently on a tour of Europe that will run till Saturday.

The new investment deals put the total amount of South Korea’s 2018 foreign direct investment at $20.27 billion, surpassing the $20 billion target, the ministry said.

Over a dozen companies in sectors such as chemical, renewable energy and healthcare attended the event that was presided over by South Korean Trade Minister Sung Yun-mo, including Total S.A., Renault and Volvo Trucks, the ministry added.

Yonhap

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