Baek Byung-yeul is a journalist at The Korea Times focused on cultural content, including films and cultural events in South Korea. You can contact him at baekby@koreatimes.co.kr to share your insights.
KOTRA attracts investors via metaverse platform
Participants take part in KOTRA's PINVEST virtual space investment consultation event, Dec. 9. Courtesy of KOTRA
By Baek Byung-yeul
By Baek Byung-yeul
The Korea Trade-Investment Promotion Agency (KOTRA) said Friday that it had hosted an investor event providing opportunities for domestic and overseas investors to meet local companies in virtual space.
The state-run agency said that it held what it calls a “PINVEST” event using its metaverse platform, Thursday. PINVEST is a portmanteau that combines “pinpoint” and “invest.”
The event was KOTRA's first investment consultation event using the virtual reality platform. Through the metaverse platform, KOTRA aimed to offer investors an alternative to attending face-to-face meetings amid the ongoing pandemic.
“The meeting was designed to help investors directly choose companies they are interested in and have time for in-depth meetings in an independent virtual space,” the agency said.
Not only did potential investors and foreign investment companies participate, but there were also about 70 domestic investment customers, including local governments, the Free Economic Zone Authority and the Chamber of Commerce and Industry, KOTRA added.
“Through the PINVEST event, which used the metaverse platform, we will strengthen counseling support so that overseas investors can achieve successful results when making investment decisions and operating their businesses,” a KOTRA official said.