I am an editorial writer at The Korea Times, focusing on foreign policy, North Korea and domestic politics. My key areas of interest include North Korea, foreign interference in elections, election integrity, cyberattacks and human rights. Prior to joining the Editorial Board, I served as both Politics Desk editor and Culture Desk editor. During my career, I have reported on the Presidential Office under the Lee Myung-bak administration, the Ministry of Foreign Affairs and the National Assembly.
Envoys grateful for direct talk with policymaker
Australian Ambassador William Paterson PSM talks with Tomasz Kozlowski, European Union ambassador to Korea, during The Korea Times’ Foreign Investors Forum 2015 at the Plaza Hotel in downtown Seoul. / Korea Times
By Kang Hyun-kyung
By Kang Hyun-kyung
Foreign ambassadors who attended the Foreign Investors Forum hosted by The Korea Times at the Plaza Hotel Friday said the event provided an opportunity for them to understand that the Korean government has the will to improve the investment climate.
“It was a very interesting and valuable meeting between the foreign business community and the Ministry of Trade, Industry and Energy,” European Union Ambassador to Korea Tomasz Kozlowski said. “It was a very good opportunity for us to ask questions directly to Minister Yoon Sang-jick.”
After attending Minister Yoon’s presentation about Korea’s trade policies and investment environment, which was followed by a question-and-answer session, the EU envoy said he was convinced the Korean government had a strong will to provide better investment chances for foreign companies.
French Ambassador Jerome Pasquier agreed with him. “I understand that Minister Yoon has made a lot of efforts to improve the investment climate in Korea,” he said.
The French envoy noted that there were still areas that needed to be improved for Korea to attract more foreign direct investment.
“There is still a lot of regulation in this country,” he said. “The main problem facing foreign people doing business in Korea is about policy stability and consistency.
“I am convinced that the minister is very much aware of these problems facing foreign business people and that he and his ministry are working hard to improve the situation.”
According to Pasquier, about 200 French companies are based in Korea and they have created nearly 25,000 jobs here.
Swedish Ambassador Lars Danielsson said he was struck by Minster Yoon’s unique vision for Korea to become a hub for China. “It will be very interesting to see how this develops,” he said.
During the presentation, Minister Yoon said the Korea-China free trade agreement, along with the rising value of the Chinese market, would bring about big changes to foreign investment dynamics in Korea.
“Since Korea’s FTA network spans across the United States and the EU, there are new opportunities for Chinese companies to engage with the global market,” the minister said. “Goods made in Korea have premium value in China, so Chinese and other global companies can also take advantage of this and start up businesses in Korea.”
Swedish Ambassador Danielsson shared the view that there are still things that need to be improved for Korea to attract more foreign direct investment and create a business-friendly environment.
“There is always a need to look at policies, deregulation that the government is pursuing and if such policies are implemented properly in reality,” he said.
Danielsson noted that diplomats and the foreign business community benefitted a lot from the forum because they were able to have direct contact with Minister Yoon, who is in charge of policymaking and implementation.
Some ambassadors expressed a hope to have more opportunities to have direct contact with the minister and officials of the ministry.
“I thought the presentation had very interesting features but I’d like to have a chance to talk a little more about deregulation, particularly in the financial services sector, and sometimes unequal application of regulation to foreign companies,” Australian Ambassador Bill Paterson said.
“Korea is a very attractive place for investment but still not a very welcoming place for investment. The forum certainly helps but also, as embassies, we seek direct access to Minister Yoon and officials at the ministry.”
Over 30 foreign diplomats, including 18 ambassadors, attended The Korea Times forum.